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6 episodes with deficit myth
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3 episodes with deficit myth
2 episodes with deficit myth
2 episodes with deficit myth
3 episodes with deficit myth
On this week's program Harry speaks with Dr. Stephanie Kelton, author of The Deficit Myth. They discuss aspects of the federal reserve including why it was made, why interest rates change, and when the last time the national debt was paid off. We'll also hear regular features like News of A.I., News of Crypto-Winter, The Apologies of the Week, and more.
As world leaders descend upon NYC for the UN General Assembly, London Mayor Sadiq Khan joins us to discuss the parallel challenges facing the UK and US. The conversation dives into both countries' elections, explores the impacts of misinformation, immigration, and populism, and examines the responsibilities of the media and politicians to educate and inform. Later, Stephanie Kelton, Economics Professor at Stony Brook University and author of "The Deficit Myth," offers a fresh perspective on our previous episode, challenging conventional wisdom about government spending and deficits. Follow The Weekly Show with Jon Stewart on social media for more: > YouTube: https://www.youtube.com/@weeklyshowpodcast > Instagram: https://www.instagram.com/weeklyshowpodcast > TikTok: https://tiktok.com/@weeklyshowpodcast > X: https://x.com/weeklyshowpod Host/Executive Producer – Jon Stewart Executive Producer – James Dixon Executive Producer – Chris McShane Executive Producer – Caity Gray Lead Producer – Lauren Walker Producer – Brittany Mehmedovic Video Editor & Engineer – Rob Vitolo Audio Editor & Engineer – Nicole Boyce Researcher/Associate Producer – Gillian Spear Music by Hansdle Hsu — This podcast is brought to you by: ZipRecruiter Try it for free at this exclusive web address: ziprecruiter.com/ZipWeekly Learn more about your ad choices. Visit megaphone.fm/adchoices
Kent Getsinger (pictured) might be an organiser with the Victorian Allied Health Professionals Association, but he is also an ardent advocate of the Modern Monetary Theory (MMT). Arrangements to interview Kent were made at a Melbourne meeting of "Sustainable Prosperity Action Group – Naarm" earlier this year where about 40 people had gathered at that city's campus of the Adelaide-based "Torrens University". Kent has pointed out that those eager to know more about MMT should join/follow the Sustainable Prosperity Action Group - NAARM, listen to RadioMMT, check out the "Modern Money Lab" website, listen to this interview from "The Australia Institute", watch this hour-long YouTube event featuring "Professor Stephanie Kelton". Finally, you can visit Professor Kelton's actual website where you can learn about her book, "The Deficit Myth". Anyone eager to talk personally with Kent will have the chance at the Swanpool Environment Film Festival on Saturday, June 15, where the movie, "Finding the Money will be screened and Associate Professor Steven Hail will attend to answer questions about the movie itself and in a more broad sense, The Modern Monetary Theory. --- Send in a voice message: https://podcasters.spotify.com/pod/show/robert-mclean/message
Stand Up is a daily podcast. I book,host,edit, post and promote new episodes with brilliant guests every day. Please subscribe now for as little as 5$ and gain access to a community of over 700 awesome, curious, kind, funny, brilliant, generous souls Stephanie Kelton is a professor of economics and public policy at Stony Brook University. She is a leading expert on Modern Monetary Theory, a former Chief Economist on the U.S. Senate Budget Committee (Democratic staff), and an advisor to Senator Bernie Sanders' 2016 and 2020 presidential campaigns. She was named by POLITICO as one of the 50 people most influencing the policy debate in America. Her highly-anticipated book, The Deficit Myth (2020), became an instant New York Times bestseller. FINDING THE MONEY follows American economist Stephanie Kelton on a journey through. Modern Money Theory or “MMT”. Kelton provocatively asserts the National Debt Clock that ticks ominously upwards in New York City is not actually a debt for us taxpayers at all, nor a burden for our grandchildren to pay back. Instead, Kelton describes the national debt as simplya historical record of the number of dollars created by the US federal government currently being held in pockets, as assets, by the rest of us. MMT bursts into the mainstream media, with journalists asking, “Have we been thinking about how the government spends money, all wrong?” But top economists and politicians from across the political spectrum condemn the theory as “voodoo economics”, “crazy” and “a crackpot theory”. FINDING THE MONEY traces the conflict all the way back to the story we tell about money, injecting new hope and empowering countries around the world to tackle the biggest challenges of the 21st century: from climate change to inequality. Join us Thursday's at 8EST for our Weekly Happy Hour Hangout! Pete on Tik Tok Pete on YouTube Pete on Twitter Pete On Instagram Pete Personal FB page Stand Up with Pete FB page All things Jon Carroll Follow and Support Pete Coe Buy Ava's Art
Jordan Klepper and Ronny Chieng tackle Jesse Watters labeling Trump being forced to sit in a courtroom for eight hours a day as cruel and unusual punishment and Joe Biden's controversial claim that his uncle was eaten by "cannibals" in New Guinea. Plus, Desi Lydic gives live updates on Trump's endless string of gag order hearings. In today's world, you need a car where you can sit in the front seat and record yourself going on an unhinged rant. That's where Rant-A-Car comes in. You provide the rant, we'll provide the car. Also, Stephanie Kelton, bestselling author of “The Deficit Myth” and professor of economics and public policy, talks to Jordan and Ronny about changing our understanding of government spending through MMT, or Modern Money Theory. She also explains how the national deficit is not a number to be fearful of, but can be put to good use, and how government finance is far more flexible than you might think. Take a quick survey to help us improve The Daily Show: Ears Edition: https://cohst.app/tdsSee omnystudio.com/listener for privacy information.
Welcome to episode 150 of Activist #MMT. Today I talk with Maren Poitras, the creator and director of the MMT documentary, Finding the Money. I had the pleasure of seeing this film on October 1st, 2023, in New York City, with my Torrens professor Steven Hail, Torrens administrator Gabie Bond, and Torrens classmate Susan Borden. After the film, we all went to a nearby bar-restaurant, and I got to meet and speak with Maren at length. (A list of the audio chapters in this episode can be found below.) In today's episode, Maren and I talk about how she came to the film and how it's informed by her background in ecological economics. We talk about the trials and tribulations of film-making, including the tortures of creating the intricate and subtle graphics used in the film. We also talk about her interactions with the non-MMTers as seen in the film. At the end, she says what you as a supporter can do to help this film be seen by others. In my view, the film is the most important milestone in the MMT movement since Stephanie Kelton's 2020 book The Deficit Myth (which was the most important milestone since US Representative Alexandria Ocasio Cortez said "MMT" out loud in 2018). The film has the power to change how we talk about some major concepts. It will be available to stream in early May. And now, on to my conversation with Maren Poitras. Enjoy. Audio chapters 3:35 - Hellos, European premiere 14:47 - When did the idea for the film happen and what is your background in film-making? 20:15 - MMT is the child in the Emperor's New Clothes. MMT forces people to question many deep fundamental assumptions about their lives. 38:59 - Printing fiasco 39:17 - Did feedback from the academics result in any major changes? 43:10 - Graphics (ripping open a wound) 47:46 - Non-MMTers in the film (attempts at critique) 55:35 - The film is unfortunately US-centric, due to time and resource constraints 57:18 - What can people do to help the film be seen? 1:01:00 - You never know where secret MMT people are lurking. 1:06:57 - Duplicate of introduction, but with no background music (for listeners with sensitive ears)
Welcome to episode 150 of Activist #MMT. Today I talk with Maren Poitras, the creator and director of the MMT documentary, Finding the Money. I had the pleasure of seeing this film on October 1st, 2023, in New York City, with my Torrens professor Steven Hail, Torrens administrator Gabie Bond, and Torrens classmate Susan Borden. After the film, we all went to a nearby bar-restaurant, and I got to meet and speak with Maren at length. (A list of the audio chapters in this episode can be found below.) In today's episode, Maren and I talk about how she came to the film and how it's informed by her background in ecological economics. We talk about the trials and tribulations of film-making, including the tortures of creating the intricate and subtle graphics used in the film. We also talk about her interactions with the non-MMTers as seen in the film. At the end, she says what you as a supporter can do to help this film be seen by others. In my view, the film is the most important milestone in the MMT movement since Stephanie Kelton's 2020 book The Deficit Myth (which was the most important milestone since US Representative Alexandria Ocasio Cortez said "MMT" out loud in 2018). The film has the power to change how we talk about some major concepts. It will be available to stream in early May. And now, on to my conversation with Maren Poitras. Enjoy. Audio chapters 3:35 - Hellos, European premiere 14:47 - When did the idea for the film happen and what is your background in film-making? 20:15 - MMT is the child in the Emperor's New Clothes. MMT forces people to question many deep fundamental assumptions about their lives. 38:59 - Printing fiasco 39:17 - Did feedback from the academics result in any major changes? 43:10 - Graphics (ripping open a wound) 47:46 - Non-MMTers in the film (attempts at critique) 55:35 - The film is unfortunately US-centric, due to time and resource constraints 57:18 - What can people do to help the film be seen? 1:01:00 - You never know where secret MMT people are lurking. 1:06:57 - Duplicate of introduction, but with no background music (for listeners with sensitive ears)
Stephanie Kelton is one of the world's foremost economics teachers and influencers, and author of The Deficit Myth. Stephanie is well known for her writing and work with US Presidential committees such as those for Bernie Sanders or under both the Trump and Biden adminisation. Stephanie recently spoke with Owen Rask on The Australian Investors Podcast about all things Modern Monetary Theory (MMT) and her works such as The Deficit Myth. Learn more about Stephanie on her website: https://stephaniekelton.com/ ~~ Resources you'll love ~~ Invest with Owen: https://bit.ly/R-invest Access Show Notes: https://bit.ly/R-notes Mortgage Broking: https://bit.ly/broke-rask Financial Planning: https://bit.ly/R-plan Property Coaching: https://bit.ly/R-P-coach 100-point property checklist (PDF): https://bit.ly/prop-check Accounting with Grey Space: http://bit.ly/3DG5lWS Business Coaching: https://bit.ly/o-coach Ask a question: https://bit.ly/3QtiY00 DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you're confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg Learn more about your ad choices. Visit megaphone.fm/adchoices
As this episode goes to air, a brand-new documentary on Modern Monetary Theory (MMT) is touring Australia and PGAP has been given the incredible opportunity to speak to USA based director of "Finding the Money (https://findingmoneyfilm.com/)", Maren Poitras. Maren has just embarked on a screening tour of South East Australia alongside Stephanie Kelton, who is a leading proponent of the MMT movement and author of ‘The Deficit Myth' (https://stephaniekelton.com/book/). (Australian Poster) During this revealing interview, Maren discusses the importance of MMT and the journey that making a feature length documentary on this important topic has taken her on. The conversation also explores why it is crucial that MMT goes hand in hand with post growth narratives and why it is important to combine the two in order to create an economic system that works within limits to growth. (Maren Poitras) ‘Finding The Money' was filmed and produced in the USA with a focus around Stephanie Kelton's advocacy in that country. However, Australia is the first country in the world to host screenings in advance of the documentary's official release in the USA later this year. This is testament to the growing popularity of MMT in Australia and its many homegrown advocates of economic reform. These include institutions such as Modern Money Lab (https://pgap.fireside.fm/mmtlab) and Economic Reform Australia (https://pgap.fireside.fm/era) as well as author Steve Williams (https://pgap.fireside.fm/stevewilliams) - all have been previous guests on PGAP. You can find the dates of the Australian screening tour below and if you are in the right place at the right time, we strongly encourage that you go and see it. Not only is it a brilliant documentary but you will also have the opportunity to meet and greet Stephanie Kelton and Maren Poitras. CLICK HERE (https://modernmoneylab.org.au/events/film-tour/) to book your tickets. Post-Growth Australia Podcast is made with the kind support of Sustainable Population Australia (https://population.org.au/). We refer to SPA's discussion paper in this interview: "Silver Tsunami or Silver Lining: Why We Should Not Fear an Ageing Population (https://population.org.au/discussion-papers/ageing/)". Any views, opinions or legacy of our guests do not necessarily reflect those of PGAP or SPA. Your PGAP co-hosts Michael Bayliss and Mark Allen are very pleased and humbled by the excellent response to the podcasts that we have made so far this year. We have had more listens than ever before, so a big thank you to our ever-growing community! We truly believe that "Finding the Money" and the conversations in this episode are very important and worth supporting, so we would be very grateful if you could share this episode within your networks. Also, please feel free to contact us (https://pgap.fireside.fm/contact) at any time with your feedback and thoughts. You can find out more about your hosts here (https://michaelbayliss.org/)and here (https://holisticactivism.net/). Special Guest: Maren Poitras.
I talked to professor Stephanie Kelton about whether or not Modern Monetary Theory (MMT) is still relevant today; how well her book the Deficit Myth is holding up, what caused the inflation spike, whether central banks are the ones driving inflation down, what the role of the government should be in controlling inflation, and how MMT applies to non-reserve currency countries like the UK.
Bob goes solo to explain and critique three popular arguments put forward by the leaders of Modern Monetary Theory (MMT).Mentioned in the Episode and Other Links of Interest:Phil Labonte's reaction to Nina Turner.A Murphy Medium post showcasing Kelton's claim about checking vs. savings accounts.Bob's review of Kelton's book, The Deficit Myth.Help support the Bob Murphy Show.
Patricia & Christian conclude their conversation about Stephanie Kelton's best-seller The Deficit Myth. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast All our episodes in chronological order: https://www.patreon.com/posts/43111643 All our patron-only episodes: https://www.patreon.com/posts/57542767 LIVE EVENTS! “Rethinking Capitalism” weekend event with Dr Steven Hail (Canberra, 26th-27th August): https://modernmoneylab.org.au/events/ Sign up to the Gower Initiative For Modern Money Studies' mailing list for updates about their event with Warren Mosler in London on 1st September (details TBC): https://gimms.org.uk/mailing-list/ Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/ Relevant to this episode: Our “Unpacking The Deficit Myth” series: https://www.patreon.com/posts/47191289 For more on MMT and the NHS/Medicare4All, listen to: Episode 42 - John T Harvey: The NHS And Healthcare Economics: https://www.patreon.com/posts/33460238 and Episode 96 - Deborah Harrington: The Fight For The NHS: https://www.patreon.com/posts/49819223 For more on MMT and ecological economics, listen to: Episode 39c - Steven Hail - Green Economics, A Just Transition and The 2020 Sustainable Prosperity Conference https://www.patreon.com/posts/32431123, Episode 108 - Steven Hail & Gabrielle Bond: Achieving Sustainable Prosperity: https://www.patreon.com/posts/54178535, Episode 172 - Steven Hail: Bond Vigilantes! Inflation! The National Debt! The Excuseonomics Killing The Planet: https://www.patreon.com/posts/84572294?pr=true, Episode 138 - Stephen Williams: Economics vs The Planet: https://www.patreon.com/posts/69831268?pr=true, Episode 140 - Michael Hoexter: Hard Money Ideology Won't Save The Planet: https://www.patreon.com/posts/70471081?pr=true and Episode 141 - Phil Lawn: On Ecological Economics: https://www.patreon.com/posts/70826821?pr=true For more on Overt Monetary Financing, read “Overt Monetary Financing – again”, by Bill Mitchell: https://billmitchell.org/blog/?p=32361 For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around - listen to episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887, 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 and episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 For more on the MMT Job Guarantee, see “Our Job Guarantee episodes” (below). For more on MMT and inflation, see “Episodes on inflation” (below) For an intro to MMT: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Quick MMT reads: Warren's Mosler's MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail's quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/ For a short, non-technical, free ebook explaining MMT, download Warren Mosler's “7 Deadly Innocent Frauds Of Economic Policy” here: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf Order “The Deficit Myth” by Stephanie Kelton: https://www.amazon.co.uk/gp/product/B081JVRT57/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i0 Order the Gower Initiative's “Modern Monetary Theory - Key Insights, Leading Thinkers” (2023): https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html Order L Randall Wray's latest book, “Making Money Work for Us” (2022): https://www.amazon.co.uk/gp/product/B0BDCS46BG/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i0 Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929 Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What's Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558 Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346 Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/ More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true More on Silicon Valley Bank and bank runs: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true MMT founder Warren Mosler's Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: https://neweconomicperspectives.org/2010/02/warren-moslers-proposals-for-treasury.html MMT Events And Courses In 2023: More information about Professor Bill Mitchell's MMTed project (free public online courses in MMT) here: http://www.mmted.org/ Details of Modern Money Lab's online graduate and postgraduate courses in MMT are here: https://modernmoneylab.org.au/ Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/ MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757 We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos Show notes: https://www.patreon.com/posts/86849221?pr=true
In this episode, we delve into a profound discussion with economist Mark Paul about his book, "The Ends of Freedom," and his vision for an Economic Bill of Rights. We explore the concept of an economic bill of rights that has a long history from FDR to MLK the role of government in providing essential services, and the importance of progressive taxation. We also discuss the need for affordable childcare and its impact on women's participation in the labor force. The conversation touches on the historical context of GDP calculation, the importance of including home labor, and the implications of excluding it. We also discuss the cost of higher education and the potential benefits of making it universally accessible. The conversation concludes with a discussion on how to pay for these social programs, the role of broad-based taxation, and the importance of considering future productive capacity rather than focusing solely on the national debt.The Paper Mentioned in the Show- Children as Public Goods by Nancy Folbre, The American Economic Review 1994 - https://www.proquest.com/docview/233027518Recommended books based on this episode:1. "The Ends of Freedom" by Mark Paul - https://bookshop.org/a/94644/97802267929652. "The Value of Everything" by Mariana Mazzucato - https://bookshop.org/a/94644/97815417582473. "The Deficit Myth" by Stephanie Kelton - https://bookshop.org/a/94644/97815417361914. "The Case for a Maximum Wage" by Sam Pizzigati - https://bookshop.org/a/94644/9781509524921Topics discussed: Economic Bill of Rights Maximum and Minimum Income Government's Role Progressive Taxation Affordable Childcare Women's Labor Force Participation GDP Calculation Higher Education Cost Social Programs Funding Future Productive CapacityTwitter: https://twitter.com/Reviving_VirtuePatreon page: https://www.patreon.com/RevivingVirtueBookshop page: https://bookshop.org/shop/RevivingVirtueContact: revivingvirtue@gmail.comMusic by Jeffrey Anthony
As the UK celebrates the coronation of its most famous pensioner and its central bank tells everybody else to accept being poor, Patricia and Christian continue their conversation about Stephanie Kelton's best-seller, The Deficit Myth and ask: can the world's 5th richest economy afford dignity for all, or just those with their own anthem? Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast LIVE EVENT! Christian will be interviewing Cory Doctorow in Nottingham (UK!) on Tuesday 30th May 2023, tickets here: https://www.waterstones.com/events/an-evening-with-cory-doctorow/nottingham For an intro to MMT: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Our “Unpacking The Deficit Myth” series: https://www.patreon.com/posts/47191289 All our episodes in chronological order: https://www.patreon.com/posts/43111643 Relevant to this episode: For more on ensuring the sustainability of Social Security/state pensions with this one not-so-weird trick that unmitigatedly works for all other types of government spending, listen to Episode 164 - Yeva Nersisyan: Saving Social Security From Its Saviours: https://www.patreon.com/posts/80870597?pr=true We briefly touch on how the central bank reserve system impacts commercial banks and vice-versa, for more on that listen to Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 For more on the effective dependency ratio, see “Ageing, Social Security, and the Intergenerational Debate” by Bill Mitchell: https://billmitchell.org/blog/?p=25377 Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346 Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/ Quick MMT reads: Warren's Mosler's MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail's quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/ For a short, non-technical, free ebook explaining MMT, download Warren Mosler's “7 Deadly Innocent Frauds Of Economic Policy” here: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf Order “The Deficit Myth” by Stephanie Kelton: https://www.amazon.co.uk/gp/product/B081JVRT57/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i0 Order the Gower Initiative's “Modern Monetary Theory - Key Insights, Leading Thinkers” (2023): https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html Order L Randall Wray's latest book, “Making Money Work for Us” (2022): https://www.amazon.co.uk/gp/product/B0BDCS46BG/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i0 Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What's Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558 More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true More on Silicon Valley Bank and bank runs: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true MMT founder Warren Mosler's Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: https://neweconomicperspectives.org/2010/02/warren-moslers-proposals-for-treasury.html MMT Events And Courses In 2023 More information about Professor Bill Mitchell's MMTed project (free public online courses in MMT) here: http://www.mmted.org/ Apply for Dr Dirk Ehnts' Modern Monetary Theory and European Macroeconomics course at Maastricht University (July 31st - August 4th) here: https://maastricht.dreamapply.com/courses/course/183-modern-monetary-theory-and-european-macroeconomics Details of Modern Money Lab's online graduate and postgraduate courses in MMT are here: https://modernmoneylab.org.au/ Details of the next MMT Summer school in Poznań, Poland (September 5th-7th) will be available on this page when confirmed: https://fundacjalipinskiego.pl/wydarzenia/ Website of the 3rd International European MMT Conference (September 9th-10th: https://www.mmtconference.eu/ MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757 We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos Show notes: https://www.patreon.com/posts/82602167?pr=true
Part 5: Patricia and Christian continue their conversation about Stephanie Kelton's best-seller The Deficit Myth. In this episode: what does it mean for a nation to “win” or “lose” at trade? As the global 99% are pitted against each other in an increasingly gigified international job market, who's “we” and what is “winning”? In an effort to dodge their responsibility for domestic unemployment, politicians have become very adept at mesmerising electorates with trade three-card Monte - focusing our attention on jobs and potential income flowing overseas, when a focus on real goods and services flowing *in* from the rest of the world reveals that trade deficits actually *improve* living standards for importing nations in real terms. Nevertheless, in pursuit of political “wins”, leaders squander actual wins in pursuit of arbitrary economic indicators with the only economic management tool they think they have: unemployment. Understanding modern money shows how we can truly succeed without sacrificing people or the planet. ============= Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast For an intro to MMT: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Our “Unpacking The Deficit Myth” series: https://www.patreon.com/posts/47191289 All our episodes in chronological order: https://www.patreon.com/posts/43111643 Relevant to this episode: Shop to Win! Warren Mosler on Trump Tariffs: https://moslereconomics.com/2018/03/02/light-vehicle-sales-trump-tariffs/ Pavlina Tcherneva lays out why the Job Guarantee is core to Modern Monetary Theory in Episode 148: https://www.patreon.com/posts/73211346?pr=true Fadhel Kaboub defines monetary sovereignty in Episode 12 - Monetary Sovereignty, Colonialism and Independence: https://www.patreon.com/posts/41790149 Dirk Ehnts lays out a plan for a Eurozone-wide Job Guarantee in Episode 155: https://www.patreon.com/posts/38252014 Paper on the above proposal - “Completing The Euro: The Euro Treasury And The Job Guarantee” by Esteban Cruz Hidalgo, Dirk H. Ehnts & Pavlina R. Tcherneva: https://www.researchgate.net/publication/334226761_Completing_the_Euro_The_Euro_Treasury_and_the_Job_Guarantee Warren Mosler and Damiano B. Silipo's Job Guarantee proposal for the eurozone is within this paper - “Maximizing Price Stability in a Monetary Economy”: https://www.levyinstitute.org/pubs/wp_864.pdf For more on the Job Guarantee as a “labour standard” (as opposed to a gold standard) to achieve superior price stability to our current system, listen to our episode 125 - Sam Levey: Monopoly, Monopsony, And What To Do About Them: https://www.patreon.com/posts/61954971 Quick MMT reads: Warren's Mosler's MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail's quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/ For a short, non-technical, free ebook explaining MMT, download MMT founder Warren Mosler's “7 Deadly Innocent Frauds Of Economic Policy” here: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf Order “The Deficit Myth” by Stephanie Kelton: https://www.amazon.co.uk/gp/product/B081JVRT57/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i0 Order the Gower Initiative's “Modern Monetary Theory - Key Insights, Leading Thinkers” (2023): https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html Order L Randall Wray's latest book, “Making Money Work for Us” (2022): https://www.amazon.co.uk/gp/product/B0BDCS46BG/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i0 Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929 Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What's Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558 More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346 Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/ MMT Events And Courses In 2023 Apply for Professor Bill Mitchell's short, free online course in Modern Monetary Theory (February 15th - March 14th) here: https://www.edx.org/course/modern-monetary-theory-economics-for-the-21st-century More information about Professor Mitchell's MMTed project (free public online courses in MMT) here: http://www.mmted.org/ Tickets to the very first Scotonomics festival (online or in-person, Dundee, Scotland 24th-26th March) are available here: https://scotonomics.scot/live-events/ Apply for Dr Dirk Ehnts' Modern Monetary Theory and European Macroeconomics course at Maastricht University (July 31st - August 4th) here: https://maastricht.dreamapply.com/courses/course/183-modern-monetary-theory-and-european-macroeconomics Details of Modern Money Lab's online graduate and postgraduate courses in MMT are here: https://modernmoneylab.org.au/ Extensive list of MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757 We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos Show notes: https://www.patreon.com/posts/78800108?pr=true
On tonight's episode Connor goes into a discussion around the book the Deficit Myth and presents a case for modern monetary theory. Then Connor dives into the recent controversial book bannings in Central Bucks School District. Then we take a look at the train derailment issue in Ohio. Lastly we look towards 2024 and discuss the Republican Presidential Primary with Nikki Haley announcing her candidacy and the 2024 California Democratic Primary. All this and more on tonight's show! Join the Discord Server - https://discord.gg/6GUPV4bARq If you enjoy the show, please subscribe and hit the like button on the stream! Support on Patreon - https://www.patreon.com/greatersocietymedia Find all the show links here - https://linktr.ee/greatersocietymedia Follow on Instagram - @greatersocietymedia Follow Connor on Twitter - @ConOHanlon Greater Society Media is a progressive media company dedicated to bringing insightful analysis to viewers and readers on political topics of today from the local level to the international. The Greater Society Podcast is a weekly progressive show that focuses on analyzing American politics, current events, and history. The show covers a wide range or topics and will incorporate various guests to dive deeper into their specialties. Shows are broadcasted live on YouTube and available in audio versions as well where you listen to your podcasts. What sets the show apart is the focus on local organizing and the impacts we can all make on a local level as Connor OHanlon (the host) leverages his experience as Chairman of a local Democratic committee and former candidate for office to bring you an inside look at how politics is done. We aim to bring nuance to each and every discussion and debate and look forward to covering the unfolding history of America.
Subscribe to Bad Faith on Patreon to instantly unlock our full premium episode library: http://patreon.com/badfaithpodcast Briahna got tons of feed back on the Richard Wolff episode about the debt ceiling debate from Modern Monetary Theory heads who objected to Wolff treating the US economy like a household budget. So Briahna asked the foremost MMT economist & author of "The Deficit Myth," Professor Stephanie Kelton, on to explain what the left's approach to the debt ceiling discourse should be in her view. Also, Professor Kelton, who advised Senator Sanders in 2020, talks about her frustration with Bernie's reliance on "pay for" rhetoric, and argues that the left can't avoid teaching the public about MMT forever. Subscribe to Bad Faith on YouTube for video of this episode. Find Bad Faith on Twitter (@badfaithpod) and Instagram (@badfaithpod). Produced by Armand Aviram. Theme by Nick Thorburn (@nickfromislands).
Doug Pagitt and Dan Deitrich unpack the misconceptions around the looming Debt Ceiling Showdown and discuss a clip from Stephanie Kelton, author of The Deficit Myth, talking about how federal deficits actually function. Doug Pagitt is the Executive Director and one of the founders of Vote Common Good. He is also a pastor, author, and social activist. @pagitt Daniel Deitrich is a singer-songwriter, former-pastor-turned-activist, and producer of The Common Good Podcast. @danieldeitrich Our theme music is composed by Ben Grace. @bengracemusic votecommongood.com votecommongood.com/podcast facebook.com/votecommongood twitter.com/votecommon
In this episode, Jessica Burbank explains the origins of her anticapitalist views. We discuss her working class background, her family's economic hardships during the 2008 economic crash, and the massive bank bailouts that led her to dive deep into the field of economics. Next, we pivot to a discussion of capitalism as an undemocratic system designed “by and for the bosses.” We explore how this for-profit system manufactures scarcity, tying this fundamental tenet of capitalism to the kind of predatory practices of the oil and gas industries. These companies have engaged in horrific price gouging as American's suffer through the economic hardships of an ongoing pandemic. (For more on this topic, watch Jessica's video with More Perfect Union titled “Why Gas Prices Are So High Right Now.”)Jessica is an organizer and political analyst whose work with More Perfect Union and The Young Turks shines light on so many important issues, from military spending to the labor movement. Don't miss her Ted-X talk – “A New Direction for the U.S. Economy” – wherein Jessica calls for revolution and the complete overhaul of our economic system. Follow Jessica Burbank on TikTok, Instagram, Twitter, and Substack. Be sure to watch her videos about CIA history. Check out her work with The Young Turks:Rebel HQUnbossed with Senator Nina Turner (YouTube show and podcast)(“Unhoused On Skid Row In Need Of Basic Facilities”)Jessica Burbank's recommended reading:Stephanie Kelton's book The Deficit Myth and her substack The Lens. Longer listCOCKTAIL: DAIQUIRDATION The name is a play on the economic term “backwardation” that describes a situation in which the “futures” price of an asset is lower than the current price of the same asset)This is a delicious take on the classic daiquiri with the addition of guava since this is Jessica's favorite kind of juice. Because guava juice varies in sweetness, you might want to adjust the amount of simple syrup to your liking. Daiquirdation2 oz rum1 oz guava juice1 oz lime1/4 oz simple syrup3 dashes bittersFill a shaker with ice, add all ingredients, and shake well. Strain into a chilled cocktail glass and enjoy!Support the show
Dr Stephanie Kelton shares her research on federal budget deficits. Have we been misled on the need to avoid government debt as an excuse to pursue policies that benefit the rich more than the common person?See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Part 4: Patricia and Christian continue their conversation about Stephanie Kelton's best-seller The Deficit Myth. In this conversation: the government's red ink is our black ink, and how the notion that government bond issuance “crowds out” private sector investment is inapplicable to a floating exchange rate currency. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast For an intro to MMT: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Our “Unpacking The Deficit Myth” series: https://www.patreon.com/posts/47191289 All our episodes in chronological order: https://www.patreon.com/posts/43111643 Quick MMT reads: Warren's Mosler's MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail's quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/ Other things that came up in this conversation: Bill Mitchell on Britain's 1976 IMF loan: http://bilbo.economicoutlook.net/blog/?p=33907 Episode 49 - Phil Armstrong: Where Does Money Come From? (Part 1): https://www.patreon.com/posts/36619334 Episode 50 - Phil Armstrong: Where Does Money Come From? (Part 2): https://www.patreon.com/posts/36846931 Episode 110 - L. Randall Wray: Are We Living In An MMT World?: https://www.patreon.com/posts/54750022 Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929 Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What's Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558 Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Links to MMT scholarship by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship MMT Academic Resources - compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies For online grad and postgrad courses MMT, visit Modern Money Lab: Website: https://modernmoneylab.org.au/ Twitter: https://twitter.com/modernmoneylab Economics of Sustainability graduate courses zoom Q&A sessions (16th / 17th August, 25th August, 2nd / 3rd September): https://modernmoneylab.org.au/events/ Updates about Professor Bill Mitchell's MMT 101 course will be posted here (we think!) - due to restart mid-September 2022: http://www.mmted.org/# Sign up for alerts from The Gower Initiative For Modern Money Studies about their forthcoming MMT book: https://gimms.org.uk/ A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757 We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos Transcript for opening monologue: https://www.patreon.com/posts/71264741?pr=true Show notes: https://www.patreon.com/posts/71264759?pr=true
The full audio from the Cowboy Economist video #19: A review of Dr. Stephanie Kelton's The Deficit Myth Here is the link to the full video A link to the full audio of all Cowboy Economist videos can be found in the show notes to part one.
The full audio from the Cowboy Economist video #19a: A review of Dr. Stephanie Kelton's The Deficit Myth. Here is the link to the full video A link to the full audio of all Cowboy Economist videos can be found in the show notes to part one.
The full audio from the Cowboy Economist video #19a: A review of Dr. Stephanie Kelton's The Deficit Myth. Here is the link to the A link to the full audio of all Cowboy Economist videos can be found in the show notes to .
The full audio from the Cowboy Economist video #19: A review of Dr. Stephanie Kelton's The Deficit Myth Here is the link to the A link to the full audio of all Cowboy Economist videos can be found in the show notes to .
In Episode 60 zoomen wir aus der Corporate heraus und untersuchen den großen wirtschaftlichen Rahmen. Maurice Höfgen erklärt die Modern Monetary Theory (MMT): ein Framework, das erklärt, dass nicht Geld, sondern Ressourcen und Arbeitskraft die endlichen Ressourcen sind, um die sich staatliche Entscheidungen drehen. Er beschreibt die Unterschiede zur klassischen VWL und Human und Mary-Jane haken nach den ideologischen Grundlagen für die Durchsetzungskraft verschiedener ökonomischer Modelle.Die Folge in einem Satz: Maurice meint, wer auf Bilanzen schaut, kann die Erklärungskraft der MMT nicht leugnen; Human sieht sie als Brille, Probleme anders zu betrachten; und Mary-Jane findet, wir brauchen neues Vokabular für Staatsschulden.Shownotes:Maurice Höfgen, Homepage Maurice Höfgen, Mythos Geldknappheit, Buch Maurice Höfgen, Geld für die Welt, Youtube Channel Maurice Höfgen , Wirtschaftsbriefing (Jung & Naiv), Youtube Channel N. Gregory Mankiw , Teaching the Principles of Economics, ArtikelNetzwerk “Rethinking Economics”, Homepage Stephanie Kelton, The Deficit Myth, Buch
Welcome to a special episode of Modern (MMD), hosted by Steven Hail and Gabrielle Bond. MMD is an international show about modern monetary theory and ecological economics. This week, Steven and Gabie speak with Professor Stephanie Kelton to discuss her New York Times best-selling book, The Deficit Myth. (All episodes of Modern Money Donuts can be found on this page by Modern Money Labs.) Here's the video from which this audio comes from. (The audio is unedited.) MMD is hosted by KRTD Media, and the audio podcast is, for now, hosted by Activist #MMT. So if you'd like to be automatically notified of each new MMD episode, then subscribe to Activist #MMT on your favorite podcast platform.
Modern Monetary Theory—three simple words that are tearing apart the left. Pete Davis and Sparky Abraham have spent the last few years feeling curious and confused about this highly contentious theory, which posits that the U.S. government can deficit spend much more than it currently believes it can. (Or maybe it doesn't posit that. We're not sure.) Together, they've decided to launch a new series, in which they will interview people across the spectrum of left economics, ask questions, admit what they don't know, and try and muddle through one of the most complex questions in the world of policy: is MMT real? In this episode, Sparky and Nathan J. Robinson (@NathanJRobinson) of Current Affairs magazine interview Stephanie Kelton (@StephanieKelton), professor at Stony Brook University, author of the book "The Deficit Myth," and advisor to Bernie Sanders' 2016 Presidential Campaign. One of the preeminent theorists of Modern Monetary Theory, Professor Kelton explains a basic overview of the theory and what it offers policymakers at the federal level. This episode was originally published on December 1, 2020 on the Current Affairs podcast feed, and is being republished now as the Rabbithole podcast picks up the question of "is MMT real?" Please excuse any outdated references, and stay tuned as we continue our investigations down the rabbithole. This episode was edited by Dan Thorn (@danieljtvthorn) of Pink Noise Studios in Somerville, MA, and it features theme music by Danny Bradley (https://dannybradleymusic.com/). If you like the podcast, please consider supporting our investigations by becoming a patron. Find Pete on Twitter at @PeteDDavis and Sparky at @sparkyabraham
Welcome to episode 107 of Activist #MMT. Today's part two of my three-part conversation with lawyer and independent economics researcher Jonathan Wilson, on the reality of the petrodollar or reserve currency, focusing on his unique and easy-to-understand "Cool Stuff" hypothesis. Jonathan's article on the topic can be found on pmpecon.com. Here's a direct link: The Cool Stuff Hypothesis Versus the Petrodollar. Jonathan's post is featured in this new #MMT resource post, which debuts today: The reality of exchange rate determination (sources to learn more). The Cool Stuff hypothesis is a realistic look at how and why a country's currency is desired, spent, and saved by people both in and out of the country. The playful phrase "Cool Stuff" was inspired by Stephanie Kelton and her 2020 book The Deficit Myth, which takes twenty-five years of MMT academic scholarship and boils it down for a popular, non-academic audience. In part one, Jonathan summarized his hypothesis and today he continues that summary. We then connect the hypothesis to the ridiculous and hyperbolic theory of the petrodollar. In part three, we drastically change subjects. For the past nine months, Jonathan has assisted me in developing a full and free online course that's not directly MMT, but is critical for those who want to better understand it. It's based on the work of Asad Zaman (who was my guest in episodes 56 and 57) and is titled Historical Context for Real-World Economics. The course is produced by Activist #MMT, and hosted by Bill Mitchell's MMTed and Esha Krishnaswamy's Historic-ly. But for now, let's get right back to part two my conversation with Jonathan Wilson. Enjoy. Audio chapters 7:44 - Canada Japan example 12:43 - John Harvey, exchange rate determination 19:43 - "The dollar's going to plummet/collapse" 22:30 - The theory of the petrodollar 30:26 - Pakistan example 35:13 - Twitter conversation with neoclassical economist 39:37 - Cool Stuff doesn't necessarily mean GOOD. 44:58 - Outsourcing; components here, assembly there; components there, assembly here 48:17 - Coercion is always bad, not necessarily low-for-high 49:43 - The reality of the petrodollar 54:19 - Petrodollar as global surveillance 57:25 - Final words on petrodollar- cascade of liabilities and "Cool Stuff"
Welcome to episode 106 of Activist #MMT. Today I talk with lawyer and independent economics researcher Jonathan Wilson, on the reality of the petrodollar or reserve currency, focusing especially on his unique and easy-to-understand "Cool Stuff" hypothesis. Jonathan's article on the topic can be found on pmpecon.com. Here's a direct link: The Cool Stuff Hypothesis Versus the Petrodollar (A list of the "audio chapters" in this episode can be found at the bottom of this post. Here's a link to parts two and three.) Links to snippets from this three-part episode with Jonathan Wilson: From ep107: Stephanie Kelton, Pixar, and TMBG From epEPISODENUMBERJONATHANPART3: Polanyi's Great Transformation From epEPISODENUMBERJONATHANPART3: Precision versus accuracy The Cool Stuff hypothesis is a realistic look at how and why a country's currency is desired, spent, and saved – by people both in and out of that country. The playful phrase "Cool Stuff" was inspired by Stephanie Kelton and her 2020 book The Deficit Myth, which takes twenty-five years of MMT academic scholarship and boils it down for a popular, non-academic audience. Aside from the academic concepts, what most impressed me about the book is how Stephanie successfully and simultaneously teaches these concepts to those who know nothing, and also teaches me, who at the time had been studying the topic for two-and-a-half years, things I never knew. I compare this to how the best movies and kids' music can appeal to both adults and kids. Now, regarding the Cool Stuff hypothesis. A gallon of 2% milk is not Cool. You can go into one of many stores and reliably and inexpensively find a decent gallon of milk. The stores that sell these Un-Cool products products are Un-Cool stores. They're a dime a dozen. On the other hand, some products are Cool. They're unique and more difficult to get, and you can only find them at a select number of stores, or maybe only one. These stores are, therefore, Cool. We go out of our way to shop there because we want their Cool Stuff. It's no different on the international scale. Most countries sell Un-Cool stuff, and some sell very Cool Stuff that can't be obtained anywhere else. An example of Un-Cool Stuff is a customer-support call center or website and content creators. An example of Cool Stuff is the airplanes and airplane parts sold in the United States, such as by Lockheed Martin. A distant second are those sold by Airbus in France. Of course, a store can be cool because it genuinely makes Cool Stuff. It can also be cool by killing off all its competitors so it's the only game left in town. An example is an international conglomerate entering a local market, charging below cost for as long as it takes to kill off every local competitor, and then using its monopoly power to price gouge. On the international level, as illuminated by the work of Fadhel Kaboub and others, a common example is a less-powerful country being deceived into a predatory loan by a more powerful country. This foreign-denominated debt puts the less-powerful nation into debt peonage, and a perpetual cycle of doing what's best to pay off that short-term debt at the cost of its citizens' daily, and long-term, survival. It also makes it impossible for that country to ever become Cool. What's unique in the international context, however, is that the products from a country can only be purchased with that country's currency. This is because the companies therein must pay taxes in that currency, and also must pay their employees and suppliers in that same currency, because they too have that tax obligation. It means that anyone who wishes to buy a product from a country, whether a citizen of or not, must obtain that currency. Just like a national deficit is the only thing that can give citizens wealth, a trade deficit is the only thing that can give foreigners the money with which to buy their Cool Stuff – both now and in the future. The former by spending, the latter by saving. This interview with Jonathan is in three parts. In part one, he describes how he discovered MMT starting with Sam Levey at the University of Southern California, where they were both in the marching band from 2009-2012. The first MMT book Jonathan purchased was Clint Ballinger's 1,000 Castaways (I interviewed Clint on his book in episodes 39 and 40). Jonathan then summarizes his Cool Stuff hypothesis. In part two he finishes that summary and then we connect the hypothesis to the ridiculous and hyperbolic theory of the petrodollar. In part three we drastically change subjects. For the past nine months, Jonathan has assisted me in developing a full and free online course that's not directly or explicitly MMT, but is critical for those who want to better understand it. It's based on the work of Asad Zaman (who was my guest in episodes 56 and 57) and is titled Historical Context for Real-World Economics. The course is produced by Activist #MMT, and hosted by Bill Mitchell's MMTed and Esha Krishnaswamy's Historic-ly. More on that in part three. If you like what you hear, then I hope you might consider becoming a monthly patron of Activist #MMT. Patrons of Activist #MMT have exclusive access to several full-length episodes (including part two with Warren), right now. A full list is here, each with a brief highlight.">If you like what you hear, then I hope you might consider becoming a monthly patron of Activist #MMT. Patrons of Activist #MMT have exclusive access to several full-length episodes (including parts two and three with Jonathan), right now. A full list is here, each with a brief highlight. Patrons also get the opportunity to ask my academic guests questions (like last week's episode with Warren), and they support the development of my large and growing collection of learn MMT resources – among other MMT things. To become a patron, you can start by going to patreon.com/activistmmt. Every little bit helps a little bit, and it all adds up to a lot. Thanks. And now, let's get to part one of my conversation with Jonathan Wilson. Enjoy. Resources 2021 post by Jon that's very complementary to John Harvey's 2011 (former!) Forbes post on the topic: Why the Quantity Theory of Money is Wrong 2021 post by Jon that he briefly summarized in our interview: What really happened during the Volcker years? BANKING PAPER LINK? Rick and Morty destroy the government by changing a one to a zero. Sam Levey plays a one-stringed instrument in NYC Audio chapters 08:17 - First Hanukkah in the new house 09:58 - Late for the interview 10:14 - Jonathan introduces himself 11:09 - MMT is correct despite commercial banks creating most money in the economy (upcoming paper) 18:41 - Before MMT- Increasing the national debt can only result in global thermonuclear war 23:08 - Learned MMT from Sam Levey (marching band) 29:13 - Consuming MMT videos, papers and books 30:41 - Starting a currency, the difficulties of the Confederacy 33:21 - UBI, provisioning government 34:10 - Timeline of his discovering MMT 35:56 - First MMT books 36:31 - Remembering The Deficit Myth 39:24 - The Deficit Myth, simple language, reaches multiple audiences (music and movies) 44:41 - Domestic versus international MMT, core versus peripheral MMT 46:25 - Money is valuable because (post office stamps) 49:05 - Cascade of liabilities (domestic) 50:36 - Cascade of liabilities (international) 52:20 - Jonathan's new post- The "Cool Stuff" hypothesis versus the petrodollar - summary 56:02 - People want dollars because the United States has Cool Stuff 58:11 - Struggle with terminology, multiple points of view 1:02:19 - Floating versus pressed exchange rates (gold standard)
Jonathan describes the first MMT books he read, and how The Deficit Myth's accessible language influenced him, especially in his "Cool Stuff" article as we discuss in the main episode. I connect this lesson to music and movies. This snippet comes from episode 106 of Activist #MMT with Jonathan Wilson, called ""Cool Stuff" and the reality of the petrodollar (cascade of liabilities)", at around the 26-minute, 30-second mark of the interview proper.
Welcome to Activist #MMT candidate interview number seven, hosted by Ramona Massachi (Twitter/@RamonaMassachi) and co-hosted by me. Today, Ramona talks with John Swoboda, who's running to represent Oklahoma's first Congressional district. (Here's a list of all MMT candidate interviews.) John decided to run after moving to the Tulsa area and discovering a lack of progressive policy agenda, but, thankfully, also an active and supportive progressive community. As a whole however, the area is highly conservative. A major challenge for John is communicating ideas he believes strongly, without needlessly alienating those who strongly disagree. John's views have only been further validated by MMT, which he specifically, and aggressively, learned for this interview. He started by reading The Deficit Myth, and then several academic papers, including Warren Mosler and Mat Forstater's 2005 The Natural Rate of Interest Is Zero, Stephanie Kelton's 1998 Hierarchy of Money, Abba Lerner's 1943 Functional Finance and the Federal Debt, and others as you'll find in this post: Several good first academic papers to learn MMT (for the layperson). Ramona and I are quite proud to not only support these candidates, but demand that they be better. We are grateful to John for being so open minded and enthusiastic. You can support John's candidacy by visiting swobodaforcongress.com and @SwobodaOk on Facebook and Twitter. You'll also find a link to donate to his campaign in the show notes. (A big thanks to Beyond the Spectrum for the "MMT Candidate" logo.) There are three goals of this MMT candidate interview series: the first is to support and give a platform to candidates who care about all people, and because of this, are ignored by the so-called news outlets that are, in reality, news of, by, and for the rich. The second goal is to determine what these candidates need to beat corrupt opponents supported by a corrupt party in a corrupt campaign finance system, and especially, once in office, to avoid becoming corrupted themselves. Finally, the third goal is to create a community of like minded, MMT-aware candidates who can support each other through their campaigns, and especially once in office. The latter is in order to remain focused on what really matters, which is all their constituents, in an environment where there is overwhelming pressure to focus only on the needs, favors, promises, and especially money of big donors – both in and out of their district. If you're a candidate and would like to be interviewed by Ramona, please contact her directly on Twitter at @RamonaMassachi, or me at activistmmt@gmail.com. If there's a candidate you would like to see interviewed by Ramona, please let us know, and please recommend us to them! This candidate interview series is above and beyond Activist #MMT's regular episodes. If you like what you hear and would like to support this interview series and this podcast, please consider becoming a monthly patron at patreon.com/activistmmt. And now, onto our conversation with candidate for Oklahoma's first Congressional district, John Swoboda. Enjoy.
Welcome to the premiere episode of Modern Money Doughnuts (MMD), hosted by Steven Hail and Gabrielle Bond. MMD is an international show about modern monetary theory and ecological economics. What have doughnuts to do with modern money? Quite a lot, as it turns out. Gabie and Steven explore the relationship between The Deficit Myth and Doughnut Economics, and explain why their show is named Modern Money Doughnuts. Here's the from which this audio comes from. The audio is unedited.
Welcome to the premiere episode of Modern Money Doughnuts (MMD), hosted by Steven Hail and Gabrielle Bond. MMD is an international show about modern monetary theory and ecological economics. (All episodes of Modern Money Donuts are listed on this page by Modern Money Labs.) What have doughnuts to do with modern money? Quite a lot, as it turns out. Gabie and Steven explore the relationship between The Deficit Myth and Doughnut Economics, and explain why their show is named Modern Money Doughnuts. Here's the video from which this audio comes from. The audio is unedited.
The past several years shocked both our national and global economies. As the government undertakes massive spending programs to counteract the damage, the national debt, the deficit, and inflation have become issues of national debate. We've invited Stephanie Kelton, author of The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy to take us behind the rhetoric and make the case for a different way of looking at the way we raise and spend money at the federal level. --- Send in a voice message: https://anchor.fm/alyssa-milano-sorry-not-sorry/message
Doug Pagitt and Dan Deitrich discuss an excerpt from Stephanie Kelton's The Deficit Myth which explains how federal taxes, budgets, and spending are completely different from the state, local, or household level. The Deficit Myth by Stephanie Kelton Doug Pagitt is the Executive Director and one of the founders of Vote Common Good. He is also a pastor, author, and social activist. @pagitt The Common Good Podcast is produced and edited by Daniel Deitrich. @danieldeitrich Our theme music is composed by Ben Grace. @bengracemusic votecommongood.com votecommongood.com/podcast facebook.com/votecommongood twitter.com/votecommon
หนังสือ The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy ของ Stephanie Kelton - โครงสร้างระบบการเงินที่สำคัญของยุคสมัยนี้ คือทฤษฎี Modern Monetary Theory (MMT) ที่ว่าด้วยเรื่องสกุลเงินมีผลต่อระบบเศรษฐกิจมวลรวม - คำถามที่ว่า สกุลเงินคือตัวแทนของทอง แต่ทำไมแล้วสกุลเงินของแต่ละประเทศจึงเป็นตัวชี้วัดหลักไปได้ อะไรอยู่เบื้องหลังการตรึงค่าเงิน และมันมีส่วนสำคัญต่อโลกนี้อย่างไรบ้าง - ประเทศที่กำลังขาดดุลทางการค้าอย่างต่อเนื่อง ก็คือสหรัฐอเมริกา ซึ่งถ้าเราประเมินสิ่งที่ประเทศจะเสียหายก็น่าจะต้องใช้อำนาจต่อรองที่เพิ่มมากขึ้นอีกหลายเท่าตัว ซึ่งมันต้องใช้ระยะเวลายาวนาน - แล้วกลยุทธ์ลับที่ทำให้แต่ละประเทศยังสามารถขับเคลื่อนเศรษฐกิจอยู่ได้ ก็คือการเพิ่มการถือเงินต่างประเทศมากยิ่งขึ้น เพราะมันคือการโอนความเสี่ยงจากการขาดดุล ไปเป็นการลงทุนสกุลเงินนั้น ๆ แทน - แต่กลับกลายเป็นว่า ผลเสียในระยะยาวของการตรึงค่าเงินจะทำให้สกุลเงินขาดความน่าเชื่อถือ เพราะเศรษฐกิจที่ดีควรจะโตจากอุตสาหกรรม ไม่ควรโตจากหนี้สินหรือการลงทุนโดยส่วนเดียว จึงจำเป็นต้องระมัดระวังเอาไว้
Do you ever feel like the system is stacked against you? Like no one, not even the people you elect to help you, really have your back? Do you ever worry about the encroaching dystopia of privately owned artificial intelligence & automation that will make human workers obsolete? Ever think to yourself “why don't they just fucking DO something about all of this?” only to be annoyed when someone inevitably brings up the supposed financial cost of a better world? If so, then todays interview is for you! I sit down with YouTuber 1Dime as we talk politics, socialism, modern monetary theory, automation, and universal basic income and a whole lot more. So check it out! www.ultravioletpod.com/1dime
Timothy Munro is the CEO & Founder of Change Accountants & Advisors, and Founder & Director of Change GPS. Timothy co-founded his first accounting firm at the age of 19, had a life-changing impact on his clients, and licensed his tools and processes to other firms through Change GPS. In this episode, Timothy and Stuart discuss the importance of establishing a positive relationship and shared values to achieve mutual success for you and your clients. They also talk about the future of how to choose the right clients to work with, emissions reduction, and favorite personal vehicles.Together they discuss: Win at Xero Awards (1:10) Origins of Change GPS and Change Accountants (03:00) Going separate ways with previous business partner (04:40) The third version of Change GPS (5:50) Wealth Transfer Plan App (8:45) Importance of values and not working with assholes (11:50) Problems with the largest client (12:20) Defining moment to say “no” (15:00) Repetition of emphasis (18:20) Establishing connection with the client (19:50) Capacity to make winning decisions (21:20) You and your family (23:50) Why clients love Change GPS (24:30) Last vehicle and travel plans for 2022 (25:40) First overseas trip (27:40) Best financial advice an accountant can ever get (30:15) Emissions reduction future (32:00) The Deficit Myth (35:00) What happens if the whole world goes bankrupt (35:40)
Welcome to episode one hundred of Activist #MMT. Phew! Today I talk with standup comedian and progressive video podcaster, . When there's not a global pandemic, Ron and Graham Elwood join together for a comedy tour. They've traveled all over the United States as well as Australia. I had the pleasure of seeing them twice in Philadelphia in 2019. The third time would have been October 9th, 2021, were it not for the Delta variant... and our government not doing anything about... well, anything. Today, Ron and I talk about how he discovered MMT, especially through . It was recommended to him by Steven Hail, over beers the day after a live show with Graham in Adelaide, Australia, in late 2019. After describing his journey to MMT, Ron then expresses two of his concerns about MMT, regarding how to apply the theory and also with some of the practices of a small amount of its supporters. Among many other things, Ron and I dig into the major (but cordial!) disagreement we've had ever since . Despite knowing that taxes don't pay for stuff at the national level, Ron believes strongly that leveraging the idea is a valuable political messaging tool. I say it's counterproductive. Really counterproductive. Take a listen and see what you think. Beyond economics and politics, Ron and I share a love of music. For the past three years, I've been a small part of nearly every Ron Placone video and podcast, providing harmony for his theme song. In fact, the day this episode was recorded was the first that a new, more laid-back version of his theme, with new harmony, was debuted. Finally, at the very end of today's episode, after the closing theme music, you will hear Ron and my live performances in Philadelphia. We sing (the original version) of , and then . Ron is on the guitar and lead vocals, and I sing harmony, whistle, and play percussion. (With a big thanks to Geoff Ginter, the person who introduced me to MMT, for the guitar.) You'll find links to several episodes of Ron's show over the past three years, with both me and Steven Hail, in the show notes. A final thing regarding today's episode: a minor kind-of correction: the person with Steven Hail in Australia was Phil Lawn. I also want to mention that, as always, you will a find a duplicate of today's spoken introduction at the very (very) end of the episode. (It normally comes after the closing theme music.) This is for those who wish to hear it without even quiet music in the background. I started this more than a year ago at listener request. You can contact me directly on Twitter or at . If you like what you hear, please consider becoming a monthly patron of Activist #MMT. For as little as a dollar a month, all patrons get super-early access to nearly every episode. They also get the opportunity to ask my academic guests questions, and they also support the development of my , among several other things. To become a partition, you can start by visiting . Thanks. And now, onto my conversation with Ron Placone. Enjoy. Resources The where this episode comes from. Ron interviews Steven Hail in October, 2020: Some of my appearances on Ron's show:
Welcome to episode one hundred of Activist #MMT. Phew! Today I talk with standup comedian and progressive video podcaster, Ron Placone. When there's not a global pandemic, Ron and Graham Elwood join together for a comedy tour. They've traveled all over the United States as well as Australia. I had the pleasure of seeing them twice in Philadelphia in 2019. The third time would have been October 9th, 2021, were it not for the Delta variant... and our government not doing anything about... well, anything. Today, Ron and I talk about how he discovered MMT, especially through David Graeber's 2011 book DEBT. It was recommended to him by Steven Hail, over beers the day after a live show with Graham in Adelaide, Australia, in late 2019. After describing his journey to MMT, Ron then expresses two of his concerns about MMT, regarding how to apply the theory and also with some of the practices of a small amount of its supporters. Among many other things, Ron and I dig into the major (but cordial!) disagreement we've had ever since meeting in August of 2018. Despite knowing that taxes don't pay for stuff at the national level, Ron believes strongly that leveraging the idea is a valuable political messaging tool. I say it's counterproductive. Really counterproductive. Take a listen and see what you think. Beyond economics and politics, Ron and I share a love of music. For the past three years, I've been a small part of nearly every Ron Placone video and podcast, providing harmony for his theme song. In fact, the day this episode was recorded was the first that a new, more laid-back version of his theme, with new harmony, was debuted. Finally, at the very end of today's episode, after the closing theme music, you will hear Ron and my live performances in Philadelphia. We sing (the original version) of Ron's theme song, and then our cover of Tom Petty's Last Dance for Mary Jane. Ron is on the guitar and lead vocals, and I sing harmony, whistle, and play percussion. (With a big thanks to Geoff Ginter, the person who introduced me to MMT, for the guitar.) You'll find links to several episodes of Ron's show over the past three years, with both me and Steven Hail, in the show notes. A final thing regarding today's episode: a minor kind-of correction: the person with Steven Hail in Australia was Phil Lawn. I also want to mention that, as always, you will a find a duplicate of today's spoken introduction at the very (very) end of the episode. (It normally comes after the closing theme music.) This is for those who wish to hear it without even quiet music in the background. I started this more than a year ago at listener request. You can contact me directly on Twitter or at activistmmt@gmail.com. If you like what you hear, please consider becoming a monthly patron of Activist #MMT. For as little as a dollar a month, all patrons get super-early access to nearly every episode. They also get the opportunity to ask my academic guests questions, and they also support the development of my large collection of learn-MMT resources, among several other things. To become a partition, you can start by visiting patreon.com/activistmmt. Thanks. And now, onto my conversation with Ron Placone. Enjoy. Resources The original unedited video where this episode comes from. Ron interviews Steven Hail in October, 2020: Full video Segment: An MMT Q and A Segment: Do politicians pretend to not understand MMT? Segment: The importance of MMT for a Green New Deal Segment: How to push for an MMT future outside of electoral politics Some of my appearances on Ron's show: My original appearance: August, 2018 May 2020 MMT Monday, July 2021
Economic Professor Stephanie Kelton makes it clear that holding policy hostage to budget deficits is nonsensical. --- Blog: https://bit.ly/3p1vA25 --- Support this podcast: https://anchor.fm/egbertowillies/support
Balanced budgets is not a term you hear often during a pandemic. Governments worldwide of all political stripes have run massive deficits to deal with COVID-19. How concerned should we be about this ballooning debt? Or do deficits not matter anymore? And, is this a temporary change, or does it reflect a larger shift in thinking about deficits and debt? A panel, including Stephanie Kelton, author of "The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy," debates the issue. See omnystudio.com/listener for privacy information.
Fareed speaks to former British Prime Minister and current WHO Ambassador for Global Health Financing Gordon Brown about the G20 meeting in Rome and what needed to be resolved on COVID-19, climate change and more. Then, Fareed sits down with Zalmay Khalilzad, Former U.S. Special Rep. for Afghanistan Reconciliation, to discuss the lessons learned from the U.S. withdrawal and the future of the war-torn nation. Plus, Stephanie Kelton, Prof. of Public Policy & Economics at Stony Brook University and author of the book "The Deficit Myth," explains why we shouldn't be worried about the price tags on the Biden bills awaiting votes in Congress. Lastly, Fareed examines how Trump's “big lie” political playbook is being adopted by the president of Brazil as he tries to cling to political power. To learn more about how CNN protects listener privacy, visit cnn.com/privacy
Bob provides a running refutation of Stephanie Kelton's recent TED talk on Modern Monetary Theory (MMT). Mentioned in the Episode and Other Links of Interest: Stephanie https://www.youtube.com/watch?v=MkuJTqIawqA (Kelton's TED Talk). https://mises.org/library/deficit-myth-modern-monetary-theory-and-birth-peoples-economy (Bob's review of Kelton's book) explaining MMT. Kelton's intro to MMT, https://www.amazon.com/gp/product/B07RM72BT7/ref=as_li_qf_asin_il_tl?ie=UTF8&tag=consultingbyr-20&creative=9325&linkCode=as2&creativeASIN=B07RM72BT7&linkId=df4e4f1cb27e8ef79cf1071b62dd237e (The Deficit Myth). #Commissions Earned (As an Amazon Associate I earn from qualifying purchases.) https://www.bobmurphyshow.com/episodes/ep-18-warren-mosler-defends-the-essential-insights/ (Bob's interview) of a founder of MMT, Warren Mosler. Then https://www.bobmurphyshow.com/episodes/ep-24-murphy-dissects-his-discussion-of-mmt-with-warren-mosler/ (Bob's analysis) of that episode. Bob's https://mises.org/library/upside-down-world-mmt (Mises.org critique of a popular identity) (equation) in the MMT literature. http://bobmurphyshow.com/contribute (Help support) the Bob Murphy Show. The audio production for this episode was provided by http://podsworth.com/ (Podsworth Media).
It seems every day Modern Monetary Theory becomes less of a fringe idea and more of a reality. But there are a few hidden reasons why MMT can be extremely harmful, and they have to do with taxes. Because taxes are explicitly not needed for funding in the MMT framework. But just because taxes aren't needed for funding, doesn't mean they won't be there. The Deficit Myth by Stephanie Kelton https://amzn.to/3ijv2SE
Steve is joined by Rep John Yarmuth, chairman of the house budget committee, and his journalist son, Aaron. They talk about how “The Deficit Myth” and MMT changed their outlook on federal finance and opened up vast new possibilities for the future.
Professor Stephanie Kelton explains how deficits can strengthen economies and be healthy for democracies. She argues that there are no budgetary constraints on government spending and makes the case for challenging our view of public debt. Stephanie Kelton is a professor of economics and public policy at Stony Brook University and a former Chief Economist on the U.S. Senate Budget Committee. She was named by POLITICO as one of the 50 people most influencing the policy debate in America. Dr. Stephanie Kelton advises policymakers and consults with investment banks, and portfolio managers across the globe. She is a regular commentator on national radio and broadcast television. Her highly-anticipated book, The Deficit Myth, became an instant New York Times bestseller.
This edition of the TRANSFORM Podcast is Part One of our exploration of modern American capitalism. Our current economic model serves a small group of people at the expense of the economic security of the vast majority of Americans. Why is that true and how can we change it? Our podcast presents a rundown of how the United States has historically attempted to balance public and private interests, and how we have arrived in our current moment of wealth inequality and rampant economic injustice. The voices you hear in this episode include: - Stephanie Kelton: Stonybrook professor of economics and author of The Deficit Myth (@stephaniekelton) - Matt Stoller: Research Director for the American Economic Liberties Project, and author of Goliath: The 100 Year War Between Monopoly Power and Democracy (@matthewstoller) - Richard Wolff: Professor of Economics at The University of Massachusetts Amherst and host of Economic Update (@profwolff) - Marshall Steinbaum: Assistant Professor of Economics at The University of Utah (@Econ_Marshall) - Nina Turner: Former Ohio State Senator and co-chair of Bernie Sanders 2020 Presidential campaign. (@ninaturner) - Peter Joseph: Activist, filmmaker, and author (@zeitgeistfilm) Learn more at MarianneWilliamson.Substack.com
Modern Monetary Theory or MMT is the soup of the day in the global monetary shadow world. In this episode Nathan Lewis and I discuss The Deficit Myth by Stephanie Kelton, the current bible of the MMT and functional finance crowd. If you have interest in unicorns, mythical creatures and magical money printing machines that never cause inflation then this is the episode for you. We go deep into some of the core theories in MMT and hold them up against the cold, hard light of reality.
We are thrilled to share an interview with Dr. Stephanie Kelton, the author of The Deficit Myth and the leading expert of Modern Monetary Theory. Modern Monetary Theory is a new approach to economics that is taking the world by storm Dr. Kelton is considered one of the most important voices influencing the policy debate today.Janine and Tara spend the first 20 minutes of this week's episode talking about the book The Deficit Myth, which you should all pick up and the remainder of their time interviewing world famous Dr. Kelton. Modern Monetary Theory is a different way of thinking about government spending and we can't wait for you to tune in and see how we can better build an economy that supports us all.
In the following episode, Sam dives into the key takeaways from Stephaine Keltons - "The Deficit Myth - Modern Monetary Theory and the Birth of the People's Economy". In the book, Kelton offers a different perspective on monetary operations that opposes conventional thinking that in order to spend we need to raise taxes. And perhaps conventional thinking may be true under nations that have no union of monetary and fiscal policy or are reliant on another nation's currency. It's definitely not true for nations of monetary sovereignty. On today's show, you'll learn; The difference between a currency issuer and a currency user What is the purpose of taxes if it's not to fund spending What are the limitations on a nation from spending as much as it wants The misconception around a nation's debt and much more. If you enjoyed this episode and would like to be notified weekly about the latest episode be sure to subscribe to the newsletter: https://buff.ly/2PMUDrN You can also pick up a copy of "The Deficit Myth - Modern Monetary Theory and the Birth of the People's Economy".
This time around I talked to Chris Tanner from the Cellar Door Skeptics about the book Work by CrimethInc. then during the Red Reviews segment Justin Clark reviews the book The Deficit Myth by Stephanie Kelton https://skepticalleftistpod.wordpress.com/2021/06/23/work-w-chris-tanner-plus-red-reviews-5/ --- Send in a voice message: https://anchor.fm/skepticalleftist/message
This is the second instalment of my series on Stephanie Kelton's MMT book The Deficit Myth. In this episode I explore her belief that government finances are radically different to personal finances and that governments, as currency issuers, can never run out of money.
In this episode I get to speak to one of the UK's brightest economic thinkers, economist, and central-bank specialist, Mr Dario Perkins, Managing Director of Global Macro, TS LOMBARD, the Global Investment think tank, with 30 years experience on key issues in Economics, Politics and Markets. The two main topics of discussion in this conversation are INFLATION and MODERN MONETARY THEORY (MMT) Inflation - do you understand it, what does it mean, and why is it important? Dario spells all of this out in his very easy to follow way, breaking it down for us, allowing us to grasp the fact that when government's talk about inflation, it's really the sustained increases in prices they are looking out for. In his view there is alot of noise around at the moment, all supply and demand related. Most of this makes sense, with the idea being it should all settle down, as economies and the pent up demand across a range of sectors evens itself out, over the rest of this year. There is a very smooth transition into explaining MMT, and why that could be the game changer for society right now. This MMT discussion really is fascinating to watch and play out across the world, as it seems to me there are two groups of economists in the world today(just to try and keep things simple). Those of the more traditional economic mindset, who remember made an absolute mess of the 10 years (referred to as the lost decade) post the last Global Financial Crisis in 2008, and then those who see economics through a different lease, where they don't actually believe that deficits and governments borrowing money is the real story and all that interesting. I talk about one of the US leading economist's Stephanie Kelton in this conversation a few times, as she has written an excellent book which I recommend "The Deficit Myth". There are a couple of key points to understand, but one fundamental one being that for those countries that are issuers of their own currency, like the US, UK and Australia, then you should never be in a position where you would have to default and you can also set your own interest rates. In essence what MMT does is to provide the tools and software for these countries to try and fix some of the huge problems facing it like climate change, infrastructure and inequality, by providing governments fiscal space to provide for more expansive fiscal policy. Dario shares his veiw on what Biden is doing with MMT (Bidenomics) in the US right now, borrowing billions of dollars to drive the recovery there. In the EU it looks like they are also going in that direction but Interestingly Dario feels that if BJ is going to remain in power in the UK, he will have to follow suit. I hope you enjoy this conversation and get some value from it. As ever all feedback, greatly appreciated. Finally If you have a minute, I would be really grateful for a review wherever you get your podcasts and if you share this with one other person. Have a great weekend all, and look after yourself and each other. CD
Stephanie Kelton, author of the Deficit Myth and former policy advisor to US Presidential candidate Bernie SandersMarc-André Pigeon, Assistant Professor in the Johnson Shoyama Graduate School of Public Policy, University of SaskatchewanSenator Pamela Wallin, moderatorDr. Stephanie Kelton is a leading economist, professor, and commentator. A Founding Fellow at the Sanders Institute, and Board Chair of Economists for Peace & Security, Dr. Kelton is currently a professor of Public Policy and Economics at Stony Brook University. She is a renowned proponent of Modern Monetary Theory (MMT), which posits that the federal government cannot become insolvent with respect to obligations in its own currency. Kelton was recognized by POLITICO as one of the top 50 people in the United States who helped transform American politics in 2016.Marc-André Pigeon is an Assistant Professor in the Johnson Shoyama Graduate School of Public Policy, University of Saskatchewan campus, and the Director of the Centre for the Study of Co-Operatives
This is the first in a new series of content where I explore Stephanie Kelton's theories of MMT. Is MMT just Keynesianism on steroids? Is there any veracity to the claims of Stephanie Kelton and other advocates of Modern Monetary Theory. I explore the introductory claims in her books and some initial responses to the six myths that she believes must be overcome for MMT to be properly understood.
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Three books we think could change the world; "The Deficit Myth", by Stephanie Kelton, "Doughnut Economics", by Kate Raworth, and "The Mission Economy", by Mariano Mazzucato, all describe how we can create a political vision in the 21st century. With the history of visionaries like Keynes, we're looking for the things to fight for and Jason Hickel has managed to provide it all in one succinct explanation with his book "Less is More". With the changing definitions of capitalism and the blurry words we use to describe the current state of things, Hickel is able to provide clear and solid ideas that need to change in order to start repairing the world. Steven Hail, Economist from the University of Adelaide and a regular guest of the show, joins Tim and David to discuss this fantastic book. If you have any thoughts, questions, or want to how to best manifest destiny and contribute to your community, contact us and send us an audio clip at timwhiffen@auscastnetwork.com Want to work with David? Get in contact on his website. Need help with your podcast project? Ask Tim of Whimsy Productions. Support the show: https://auscast-network.myshopify.com/collections/blind-insights See omnystudio.com/listener for privacy information.
Three books we think could change the world; "The Deficit Myth", by Stephanie Kelton, "Doughnut Economics", by Kate Raworth, and "The Mission Economy", by Mariano Mazzucato, all describe how we can create a political vision in the 21st century. With the history of visionaries like Keynes, we're looking for the things to fight for and Jason Hickel has managed to provide it all in one succinct explanation with his book "Less is More". With the changing definitions of capitalism and the blurry words we use to describe the current state of things, Hickel is able to provide clear and solid ideas that need to change in order to start repairing the world. Steven Hail, Economist from the University of Adelaide and a regular guest of the show, joins Tim and David to discuss this fantastic book. If you have any thoughts, questions, or want to how to best manifest destiny and contribute to your community, contact us and send us an audio clip at timwhiffen@auscastnetwork.com Want to work with David? Get in contact on his website. Need help with your podcast project? Ask Tim of Whimsy Productions. See omnystudio.com/listener for privacy information.
Finishing Chapter 6 of The Deficit Myth by Stephanie Kelton Stumbling at times but will begin chapter 7 on Monday join me with a Subscribe Talking Financially come up later ty share subscribe and comment --- Support this podcast: https://anchor.fm/talkingmmt_financially/support
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Welcome to episode 76 of Activist #MMT. Today I talk with seventh-year MMT activist Bill Peeples. Bill earned a bachelors degree in mechanical engineering from the University of Texas at Austin. He then opened a retail computer store and managed his business with accounting software. This served as his introduction to double-entry accounting, for which he received some extra support from his father who is a Certified Public Accountant. Bill later worked for a major computer manufacturer, using computer programming and data analytics to determine why certain systems fail. All of this is to say, logic comes easily to Bill, and this helped him to very quickly pick up some important concepts underlying Modern Money Theory, or MMT. (Here is a link to __PART_TWO__.) Bill wants to understand accounting all the way down to the individual transaction. In the context of economics, this is essentially the atomic level. Understanding this level of detail, Bill says, makes the aggregate become more clear. It also turns some of what is commonly portrayed as scary and complicated, into something decidedly mundane. An example is how the public is often told that China may "dump its debt“ and that this is somehow a threat or even potential act of war against the United States. A related insight I recently learned from Bill is the very concise and simple idea that only the issuer can create and delete its own money (this includes bonds, treasuries, and securities). After being created and before being deleted, the money and bonds can do nothing but change ownership. “Dumping its debt” is a hyperbolic term meaning to sell off its entire holdings of US bonds. First of all, given the nature of the Chinese economy, it’s extremely unlikely that they would ever choose to do this. But even if they did, what Bill’s insight reveals is that China would do nothing more than exchange their bonds for cash. China would be giving up money that earns regular interest income (bonds) for money that earns no interest. In addition, because of the quantity of bonds involved, China would be very likely lose a lot of money in the process. In other words, the total amount of bonds and money in the world would remain unchanged and China would almost certainly harm itself – and not harm the United States. You will find several sources recommended by Bill in the show notes, along with some example balance sheets he’s created during his experience of responding to common questions. And now onto my conversation with Bill Peeples. Resources Books: Wynne Godley and Marc Lavoie’s textbook, Monetary economics, an integrated approach to credit, money, income, production, and wealth James Galbraith’s 2008 book The Predator State: how conservatives abandoned the free market and why liberals should too 2020 book by Stephanie Kelton, The Deficit Myth 2010 book by Warren Mosler, The Seven Deadly Innocent Frauds of Economic Policy Steven Hail’s 2018 book, Economics for Sustainable Prosperity Interviews: Mark Cuban and Pavlina Tcherneva, hosted by Charles Hayden on Real Progressives Superstructure podcast episode The virus is the virus MMT Podcast interview with John Harvey on his book Contending Perspectives: Parts one and two. Other: People and organizations mentioned: Sam Levey and Deficit Owls, Nathan Becker, Charles Hayden New Economics Perspectives Bill Mitchell’s blog Eric Tymoigne’s Money and Banking series on New Economics Perspectives Steve Keen’s Minsky model Examples of Bill’s work https://i.imgur.com/IlRyEnq.jpg https://i.imgur.com/Bid9vkW.jpg https://i.imgur.com/SLAYS0x.jpg https://i.imgur.com/hNKMq31.jpg https://i.imgur.com/fjinGcY.jpg And finally, the mind-twisting optical illusion (that reminds Bill "of the illusion of government ‘borrowing’ ".) https://i.imgur.com/VGayolB.jpg
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Bill and Jane sit down with economist, Stephanie Kelton for a comprehensive conversation about the federal budget, inflation, jobs, revamping the debt system, the power of the purse, and the US economy. Stephanie is a leading authority on Modern Monetary Theory, a new approach to economics that is taking the world by storm. She is considered one of the most important voices influencing the policy debate today. Her New York Times bestseller, The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy, shows how to break free of the flawed thinking that has hamstrung policymakers around the world. Episode Timestamps: - 3:24 The Federal Government will never run out of money - 4:16 Difference between a household and fed budget and the Power of the purse - 6:20 Raising Taxes for debt - 8:06 Paying the debt and interest - 9:00 The Mechanics of Government Finance - 11:21 Biden and Revamping the Debt system - 14:15 Fear of inflation - 16:23 The Essence of inflation - 18:07 Can we predict inflation? - 21:49 Inflation expectations - 22:28 Driving up prices - 23:54 Government managing people - 27:19 Jobs - 33:11 Power of the purse ---------------------- Learn More: https://www.curtco.com/meetmeinthemiddle Follow Us on Twitter: https://www.twitter.com/politicsMMITM Hosted by: Bill Curtis and Jane Albrecht Edited and Sound Engineering by: Joey Salvia Theme Music by: Celleste and Eric Dick A CurtCo Media Production https://www.curtco.com See omnystudio.com/listener for privacy information.
Now that the Democrats are back in control in DC, the Republicans are once again screaming about the national debt and deficit, things they weren't even slightly concerned with when their party held the majorities and they spent like the proverbial drunken sailors. So, I once again called on MMT expert and author of "The Deficit Myth," Stephanie Kelton
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Stephanie Kelton, Professor of economics and public policy at Stony Brook University & author of ‘The Deficit Myth: Modern Monetary Theory and How To Build a Better Economy’ Taking Stock on Apple Podcasts, Google Podcasts and Spotify. Download, listen and subscribe on the Newstalk App. You can also listen to Newstalk live on newstalk.com or on Alexa, by adding the Newstalk skill and asking: 'Alexa, play Newstalk'.
Lawyer and Modern Money Network President Rohan Grey answers questions posed by readers of Stephanie Kelton’s The Deficit Myth at a book club event hosted by Ramona Massachi of Real Progressives. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast Support Real Progressives: https://www.patreon.com/realprogressives For an intro to MMT: Listen to our first three episodes: https://www.patreon.com/posts/41742417 All our episodes in chronological order: https://www.patreon.com/posts/43111643 All our episodes with Rohan Grey: https://www.patreon.com/posts/43558419 Our episode 48 with Rohan on the #MintTheCoin initiative: https://www.patreon.com/posts/36292974 Our episode 90, with Stephanie Kelton: https://www.patreon.com/posts/48165836 Our Unpacking The Deficit Myth Series: https://www.patreon.com/posts/47191289 Our episodes explaining government bond issuance: Part 1: https://www.patreon.com/posts/29621245 Part 2: https://www.patreon.com/posts/29829500 Rohan Grey’s website: https://rohangrey.net/ Administering Money: Coinage, Debt Crises, And The Future Of Fiscal Policy by Rohan Grey: https://rohangrey.net/files/coinage.pdf Monetary Resilience by Rohan Grey: https://digitalcommons.law.wne.edu/lawreview/vol41/iss3/4/ The Modern Money Network: https://www.modernmoneynetwork.org/ Listen to Macro N Cheese podcast: https://realprogressives.org/macro-n-cheese-podcast/#fwdmspPlayer0?catid=0&trackid=0 Most MMT resources can be found at We Can Have Nice Things: https://wecanhavenicethings.com/ A list of upcoming MMT events and courses: https://www.patreon.com/posts/47531455 A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757 Transcript for opening monologue: https://www.patreon.com/posts/50680005 We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos Show notes: https://www.patreon.com/posts/50672786
Professor of economics and president of the Global Institute For Sustainable Prosperity Fadhel Kaboub answers questions posed by readers of Stephanie Kelton’s The Deficit Myth at a book club event hosted by Ramona Massachi of Real Progressives. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast Support Real Progressives: https://www.patreon.com/realprogressives Video of this event: https://www.youtube.com/watch?v=ZqZc5b6Hq48&ab_channel=RealProgressives For an intro to MMT: Listen to our first three episodes: https://www.patreon.com/posts/41742417 All our episodes in chronological order: https://www.patreon.com/posts/43111643 All our episodes with Fadhel Kaboub: https://www.patreon.com/posts/43484621 Our episode 90, with Stephanie Kelton: https://www.patreon.com/posts/48165836 Our episode 48, on the #MintTheCoin initiative with one of its architects, Rohan Grey: https://www.patreon.com/posts/36292974 Our Unpacking The Deficit Myth Series: https://www.patreon.com/posts/47191289 Warren Mosler’s proposals for banking reform: http://moslereconomics.com/wp-content/pdfs/Proposals.pdf The Bank of England’s “Independence” - A Handy Guide: https://www.patreon.com/posts/44617543 A list of upcoming MMT events and courses: https://www.patreon.com/posts/47531455 A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757 Transcript for opening monologue: https://www.patreon.com/posts/50108848 We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos Show notes: https://www.patreon.com/posts/50108906
Our Artistic Director, Sean Wilson, hosts a conversation with Stephanie Kelton, the leading thinker and most visible public advocate of modern monetary theory. Her book, The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy, is a bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity. Books are available from our friends at Perfect Books. The Ottawa International Writers Festival is supported by generous individuals like you. Please consider subscribing to our newsletter and making a donation to support our programming and children's literacy initiatives. Presented in partnership with the Ottawa Public Library.
Just one month into his presidency, Joe Biden is rallying Congress and the American people behind a $1.9 trillion pandemic rescue package, as Democrats squabble over the details. Senator Bernie Sanders, who chairs the Senate Budget Committee, says it is ‘morally imperative' to keep a $15 minimum wage in the package. But with the Senate split evenly between Republicans and Democrats, will the Democratic Party unite behind him? And, power outages across the southern United States expose the failures of an aging infrastructure system, as the debate over fossil fuels and renewable energy heats up. Environmentalists are calling this a wake up call for America's reliance on fossil fuel, but oil and gas pipelines continue to snake across the country. Guests: Stephanie Kelton- Former senior economic adviser to Bernie Sanders' presidential campaigns, professor of economics & public policy at Stony Brook University and author of The Deficit Myth. Steven Chu- Former US Secretary of Energy, Nobel laureate & professor of physics at Stanford University Winona LaDuke- Anishinaabe environmental and indiginous rights activist & executive director of Honor the Earth Watch other episodes of Inside America ➡ Weekly in-depth interviews with American opinion and policy-makers exploring the issues shaping US politics.
Is MMT good for the stock market? Why is it so controversial? In this episode Steve and Pete discuss the various aspects of MMT including whether it is good for markets and the impacts of the theory on your stock market portfolio. Books - Stephanie Kelton, The Deficit Myth; L. Randell, Wray Modern Monetary Theory. Thanks for listening! Download a free chapter from our book 'Low Rates, High Returns' www.lowrateshighreturns.com/podcast Pete Wargent www.petewargent.com/ www.linkedin.com/in/pete-wargent-37228322/ Stephen Moriarty twitter.com/SGM63
The economic collapse unfolding before our eyes is much bigger than it appears and the solution isn't simply to “build back better.” COVID-19 didn't create the challenges we face. It laid bare flaws that have long existed at the foundation of our system. That is particularly true for Black, Indigenous, and other People of Color. What kind of reconstruction effort would truly reflect the scale of the problem? What should we rebuild and what should we abandon? To answer these questions, Laura interviews Professor Robert Reich, economist Stephanie Kelton, community organizer Esteban Kelly and Service Employees International Union president Mary Kay Henry about their visions for a recovery that will enable us to build a new economy that is equitable, reparative and sustainable. Music in the Middle: “Stepping Back In Time” by Basel and the Supernaturals from their album “Smoke & Mirrors” courtesy of the artist.Are you enjoying and utilizing our episode research and reading lists, FOUND HERE? Please consider becoming a monthly supporter for $3, $5, $12 as a Patreon Partner. Already a monthly supporter? Please consider upping your monthly contribution. Help us reach our Holiday Fund Drive Goal of $35,000. Every donation will be matched making your support worth double! We do not take corporate or government funding. We rely on you. Thank you!
Do we fund government or does government fund us? Can sovereign states issue currency at will without risk of default? Are government deficits actually a form of public wealth? And can newly issued currency (rather than taxes or bonds) be used to pay for public works, health care, college, entitlements, and guaranteed jobs? These are the arguments made by Professor Stephanie Kelton in The Deficit Myth, the latest addition to the "Modern Monetary Theory" concept. If it sounds too good to be true, it is—and Dr. Murphy joins the show to explain why. Read Dr. Murphy's review of The Deficit Myth at mises.org/DeficitMyth
Do we fund government or does government fund us? Can sovereign states issue currency at will without risk of default? Are government deficits actually a form of public wealth? And can newly issued currency (rather than taxes or bonds) be used to pay for public works, health care, college, entitlements, and guaranteed jobs? These are the arguments made by Professor Stephanie Kelton in The Deficit Myth, the latest addition to the "Modern Monetary Theory" concept. If it sounds too good to be true, it is—and Dr. Murphy joins the show to explain why. Read Dr. Murphy's review of The Deficit Myth at mises.org/DeficitMyth]]>
Do we fund government or does government fund us? Can sovereign states issue currency at will without risk of default? Are government deficits actually a form of public wealth? And can newly issued currency (rather than taxes or bonds) be used to pay for public works, health care, college, entitlements, and guaranteed jobs? These are the arguments made by Professor Stephanie Kelton in The Deficit Myth, the latest addition to the "Modern Monetary Theory" concept. If it sounds too good to be true, it is—and Dr. Murphy joins the show to explain why. Read Dr. Murphy's review of The Deficit Myth at mises.org/DeficitMyth
Do we fund government or does government fund us? Can sovereign states issue currency at will without risk of default? Are government deficits actually a form of public wealth? And can newly issued currency (rather than taxes or bonds) be used to pay for public works, health care, college, entitlements, and guaranteed jobs? These are the arguments made by Professor Stephanie Kelton in The Deficit Myth, the latest addition to the "Modern Monetary Theory" concept. If it sounds too good to be true, it is—and Dr. Murphy joins the show to explain why. Read Dr. Murphy's review of The Deficit Myth at mises.org/DeficitMyth
THE DEFICIT MYTH Why states can – and must – afford substantial economic stimulus programs Stephanie Kelton, US-American economist in conversation with Robert Misik, author and journalist The global economy is in a serious crisis, with governments launching programs to rescue companies and stabilize the economy. Budget deficits are reaching substantial amounts. Are government bankruptcies or hyperinflation looming on the horizon? Stephanie Kelton takes a refreshing, systematic –and eye-opening – perspective at government spending. The question, she argues, is not what a state may afford, as unlike private households it can afford anything. The question is what a state is supposed to deliver. The wealth of a society is measured in terms of prosperity, job security, the production of goods, and inclusive social welfare of all citizens. Economies cannot "save themselves rich", they can only "invest richly". Therefore, a sole focus on the budgetary deficits is misplaced. Globally, we observe a new macroeconomic paradigm emerging; one, which considers "budgetary discipline" as secondary to impact. The "Modern Monetary Theory", of which Stephanie Kelton is the most prominent representative, constitutes a radical manifestation of this new consensus with a strong potential to shake up the political agenda. Having worked for Bernie Sanders in the US Senate and in her present function as one of Joe Biden's economic advisors Kelton is well positioned to influence decision makers. Stephanie Kelton´s book "The Deficit Myth" has been on the New York Times bestseller list for months. Sephanie Kelton is an US-American economist. One of the leading representatives of Modern Monetary Theory, she is also a supporter of the idea of job guarantees. During the primaries for the US presidential election in 2016, she was one of the advisors and supporters of Bernie Sanders' campaign. Before that, she was already his chief economist on the Senate Budget Committee. Kelton is a professor at the State University of New York at Stony Brook. Stephanie Kelton The Deficit Myth: Modern Monetary Theory and How to Build a Better Economy Publisher: John Murray; Number of Pages: 336; 23,30 €
What are the common misconception we have about deficits. How can we utilize deficit as a tool to improve our lives? --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
I veckans avsnitt hör du Martin Sandquist och Mikael Syding diskutera Modern Monetary Theory, även kallat Magic Money Tree, med utgångspunkt från de 6 primära myterna om MMT från boken ”The Deficit Myth” av Stephanie Kelton. Glöm inte att prenumerera i din podcast-app och lämna gärna en recension så hjälper du oss nå ut till fler lyssnare. Mer information om Antiloop hittar du på antiloophedge.com och på antiloophedge.com/memos får du även tillgång till Antiloops alla memos. Antiloop Podcast produceras i samarbete med Vexaton Media 00:00 - Intro 01:30 - Vad är Modern Monetary Theory (MMT)? 02:35 - Snarare Outdated Monetary Theory? 05:11 - MMT-förespråkaren Stephanie Kelton har i vissa fall rätt 09:14 - ”Cart before the horse”-resonemang 12:29 - Hur kommer MMT påverka oss de närmsta 10 åren? 16:33 - Myt 1: Statens ekonomi ska skötas som ett hushåll 20:22 - Myt 2: Underskott uppstår för att staten överspenderar 21:56 - Myt 3: Underskott kommer drabba nästa generation 23:50 - Myt 4: Underskott leder till att privata investeringar trängs bort 29:06 - Myt 5: Underskott gör USA beroende av omvärlden 31:09 - Myt 6: Social security och Medicare kommer leda till en kris i framtiden 33:32 - Summering 35:51 - Pamfletten ”Problems with MMT” av Robert Wenzel och economicpolicyjournal.com 37:08 - Vad är egentligen problemet med MMT?
In this episode, Trishul and Aaron get wonky as they try to explain Modern Monetary Theory. They introduce the difference between monetary policy and fiscal policy. And they try to explain how fiat currency, currency issuers, national debt, federal deficits, and debt service are all related. They discuss Stephanie Kelton's new book, The Deficit Myth, and some of the concerns of MMT. If deficits are not inherently good or bad, do you trust Congress to spend your hard-earned money wisely?Episode ReferencesMMS #27. Can a Universal Basic Income really pay for itself?Investing Forever - One Lifetime of WealthAt War with the TruthU.S. Spending War on Terror Stands at 6 TrillionDo 70% of the Benefits of the Trump Tax Law Go to the Top 1%?Book Review of The Deficit MythReview of Stephanie Kelton's Deficit MythU.S. Debt ClockU.S. Deficit by Year7 Charts Showing that the Trumps Tax Cuts Are Not Economic Rocket FuelSocial Programs Can Sometimes Turn a Profit for TaxpayersThe Deficit Myth - by Stephanie KeltonGovernment Deficits vs. Private SectorStephanie Kelton - Twitter PagePodcast Description Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.
Разговор на свободную тему только в аудиоформате. Как влияет приток частных инвесторов на рынок акций, про опционные стратегии Softbank в индексе Nasdaq, обсуждаем книгу по современной денежной теории - The Deficit Myth.
Stephanie Kelton, professor of economics and public policy at Stony Brook University and Author of The Deficit Myth, Joins Tim and David to discuss her new book, globally rising unemployment rates, and the misconceptions of trade wars. These typically dry issues are explained with such elegance and passion that they feel imminently relevant and fascinating, which they truly are. This episode of Blind Insights is another look at Modern Monetary Theory - information the COVID-19 economic crisis is sorely missing. With commentators such as Stephanie in the world, there is hope that we can build a better ecopnomy for all, in many countries around the world, and that economies can serve the people, not the other way around. If you have any thoughts, questions, or want to present your argument, contact us and send us an audio clip at timwhiffen@auscastnetwork.com See omnystudio.com/listener for privacy information.
The economic fallout from COVID-19 has compelled governments around the world to launch the largest fiscal and monetary aid programs in living memory, incurring massive deficits in the process. This is happening at the same time as a radical, new approach to economic policy making is gaining momentum: Modern Monetary Theory (MMT). Its proponents believe that governments that issue their own currencies are not limited by revenues when it comes to spending. What governments choose to spend money on is a political, not an economic decision. Opponents of MMT and deficit spending argue that there are no free lunches in modern economics. Too much government spending leads to slow growth, devalued currencies and wasteful, politicized public expenditures. On this episode of the Munk Debates Podcast, Stephanie Kelton, author of the new bestseller, The Deficit Myth, and Jacob Funk Kirkegaard, from the Peterson Institute, debate the essence of these two competing arguments. SOURCES: CBC, ABC, CNN, Bloomberg, CNBC, Yahoo Finance, Fox Business
The Deficit Myth - Modern Monetary Theory and the Birth of the People's Economy Stephanie Kelton (Public Affairs, June 2020) 336 pages A plain language elaboration of Modern Monetary Theory, a school of economics which suggests that the state does not need taxes to finance its expenditure, since it has the right to print its own currency. (It does need taxes for other purposes though.) This also means that it cannot be forced to go bankrupt in its own currency, and does not need to issue treasury bonds on open markets. All austerity and deficit fetishism is senseless and harmful. And no, printing money does not cause hyperinflation, because output adjusts.
In a very comprehensive discussion, Bob talks with Rohan Grey, Assistant Prof. of Law at Willamette University. Rohan is an expert on the history of US fiscal and monetary legislation, as well as Modern Monetary Theory (MMT). Mentioned in the Episode and Other Links of Interest: The YouTube version of this interview.Rohan Grey's CV, and his paper on the history of US coinage.Rohan's presentation on money as a creature of the law, not the State.Jon Stewart rips Paul Krugman on the trillion dollar platinum coin.Bob's original book review at Mises.org of Stephanie Kelton's book on MMT. George Selgin's response, which in turn prompted this post from Nathan Tankus.Kelton's book, The Deficit Myth. #CommissionsEarned (As an Amazon Associate I earn from qualifying purchases.)Bob's older critique of an MMT accounting argument.Bob Murphy Show ep. 18, interview with Warren Mosler.Bob's critique of fractional reserve banking.Bob on Bob Higgs on World War 2 (a portion of the presentation).Help support the Bob Murphy Show. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.
We looked at the 6 “myths” around deficits in my last podcast, and the idea that there is no constraint for sovereigns to borrow unlimited amounts in a world of economic slack. Today we look at some of the reviews and criticisms of the book.
A special episode focusing on the economic book of the moment, The Deficit Myth. What are the limits to government borrowing? Are there any? In today's podcast we look at the 6 myths highlighted in Stephanie Kelton's book. The strongest message? Don't think of a government like a household.
Bob wrote a lengthy review of Stephanie Kelton's new book on MMT, The Deficit Myth, for the Mises Institute. In this episode he narrates his review. Mentioned in the Episode and Other Links of Interest: Bob's original book review at Mises.org.Kelton's book, The Deficit Myth. #CommissionsEarned (As an Amazon Associate I earn from qualifying purchases.)Bob's older critique of an MMT accounting argument.Help support the Bob Murphy Show. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.
Friday's monthly job numbers were devastating, showing that 20.5 million Americans lost their jobs in April -- and the report only covered half of the month, leading the experts to believe that next month's numbers could be even worse. Are we officially now in a depression? That's one of the questions I put to Stephanie Kelton, Modern Monetary Theory expert, professor and author whose new book, The Deficit Myth, will be released on June 9. We'll begin the show with a look and listen to some of what happened yesterday as the Supreme Court (and we) heard a few cases on whether Donald Trump, as president, is above the law, and in the Senate where Dr,. Fauci and others testified before the HELP committee about the Covid-19 crisis and the nation's response.
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