Warren Mosler
Encyclopedia
Warren Mosler is an American economist, president and founder of Mosler Automotive, and co-founder of the Center for Full Employment And Price Stability at the University of Missouri-Kansas City. He briefly ran for President of the United States
as a member of the Democratic Party
in the 2012 election
before dropping out to run for U.S. Senate.
and was initially employed in Hartford
before moving to New York City
to work on Wall Street
. In 1982, he began a hedge fund
, which by the 1990s was largely turned over to his partners. Later, he relocated to the U.S. Virgin Islands to participate in a government-sponsored economic growth initiative, which also enables Mosler to reduce his federal taxes by 90%. Mr. Mosler's effective tax rate is reduced to 4%, which has garnered criticism as a tax avoidance scheme. .
Academically, he is known for his writings on Modern Monetary Theory, an economic theory that describes the way fiat money
is created and utilized in modern economies.
for the Democratic Party nomination. In April 2010, he withdrew to run in the United States Senate election in Connecticut, 2010
as an independent. In the final tally he received 0.98% of the vote.
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
as a member of the Democratic Party
Democratic Party (United States)
The Democratic Party is one of two major contemporary political parties in the United States, along with the Republican Party. The party's socially liberal and progressive platform is largely considered center-left in the U.S. political spectrum. The party has the lengthiest record of continuous...
in the 2012 election
United States presidential election, 2012
The United States presidential election of 2012 is the next United States presidential election, to be held on Tuesday, November 6, 2012. It will be the 57th quadrennial presidential election in which presidential electors, who will actually elect the President and the Vice President of the United...
before dropping out to run for U.S. Senate.
Background
Mosler spent his early life in Manchester, ConnecticutManchester, Connecticut
Manchester is a township and city in Hartford County, Connecticut, United States. As of the 2010 census, the town had a total population of 58,241.- History :...
and was initially employed in Hartford
Hartford, Connecticut
Hartford is the capital of the U.S. state of Connecticut. The seat of Hartford County until Connecticut disbanded county government in 1960, it is the second most populous city on New England's largest river, the Connecticut River. As of the 2010 Census, Hartford's population was 124,775, making...
before moving to New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
to work on Wall Street
Wall Street
Wall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, or...
. In 1982, he began a hedge fund
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
, which by the 1990s was largely turned over to his partners. Later, he relocated to the U.S. Virgin Islands to participate in a government-sponsored economic growth initiative, which also enables Mosler to reduce his federal taxes by 90%. Mr. Mosler's effective tax rate is reduced to 4%, which has garnered criticism as a tax avoidance scheme. .
Academically, he is known for his writings on Modern Monetary Theory, an economic theory that describes the way fiat money
Fiat money
Fiat money is money that has value only because of government regulation or law. The term derives from the Latin fiat, meaning "let it be done", as such money is established by government decree. Where fiat money is used as currency, the term fiat currency is used.Fiat money originated in 11th...
is created and utilized in modern economies.
Political campaigns
In February 2009, Mosler declared his candidacy with the Federal Elections Commission to challenge President Barack ObamaBarack Obama
Barack Hussein Obama II is the 44th and current President of the United States. He is the first African American to hold the office. Obama previously served as a United States Senator from Illinois, from January 2005 until he resigned following his victory in the 2008 presidential election.Born in...
for the Democratic Party nomination. In April 2010, he withdrew to run in the United States Senate election in Connecticut, 2010
United States Senate election in Connecticut, 2010
The 2010 United States Senate election in Connecticut was a midterm election which took place on November 2, 2010 to decide a Class III Senator from the State of Connecticut to join the 112th United States Congress. Incumbent Democratic U.S...
as an independent. In the final tally he received 0.98% of the vote.