Most economists don’t debate the purpose of money. But Ray B. Zemon Chair in Liquid Assets Professor Randall Wright of the Wisconsin School of Business isn’t like most economists. A thought leader in his field, Professor Wright is known for breaking complex issues into simple terms, using pizza and beer to explain intricate sets of equations.
With a distinctively accessible teaching style, Professor Wright is known for making real-world issues understandable by analyzing and exploring such questions as “What purpose does money serve?,” “Why do banks exist?,” and “How can unemployment and job vacancies coexist in the same economy?” Ultimately, his research may help us understand how to build connections between job openings and job seekers, making the process of reducing unemployment more seamless and improving the efficiency of our economy.
Professor Wright is changing the lens through which students view the world, and his impact on teaching and applying economics is immeasurable. His ideas are heard by fellow teachers, researchers, and more than 25,000 students across the globe via a massive open online course. By presenting his material—which isn’t available in textbooks—without the constraints of standard classrooms or a traditional syllabus, Professor Wright is able to create a rare case of limitless supply actually increasing demand.