Podcasts about Levy Economics Institute

Prof. L. Randall Wray joined Class Unity to talk about the 2007-9 GFC and politics. Prof. Wray is a professor of Economics at Bard College and Senior Scholar at the Levy Economics Institute. Previously, he was a professor at the University of Missouri–Kansas City in Kansas City. You can find Prof. Wray's papers on the […]

** You are invited to attend Macro ‘n Chill, our community building online gathering where we discuss the current episode of the podcast. Tuesday, September 23 at 8pm ET/5pm PT Click here to register. Our friend, MMT economist Yeva Nersisyan, joins Steve to discuss the struggle to communicate MMT's core principles in a media landscape filled with misinformation, including from those who should know better. They call some of them out by name and express disappointment when natural allies on the left reject modern monetary theory. “At this point, you cannot just be MMT curious. You have to make up your mind, do you want the ‘scarce money' framework? Is that the way you're going to view the world? Or do you view it through the MMT framework? Because there is no other option.” Yeva and Steve agree that MMT is not a political ideology but a crucial lens for understanding that a monetarily sovereign government is the creator of currency, which means scarcity is serving another purpose – eg, supporting this economic system. They talk about government spending during Covid as a missed opportunity to educate. They criticize so-called progressive politicians (hello Bernie!) who, despite likely understanding MMT, refuse to publicly champion its principles. This leads to self-sabotage (perhaps intentionally?) when they claim to argue for progressive policies within a conservative tax-and-spend agenda. Result? Austerity. As we regularly try to stress, a correct understanding of MMT is no solution, but rather a tool in building a revolutionary class analysis. Dr. Yeva Nersisyan is an associate professor of Economics and Department Chair at Franklin and Marshall College and a research scholar at Levy Economics Institute of Bard College. Professor Nersisyan has published more than 25 journal articles, book chapters, policy notes and policy briefs on the topics of Modern Monetary Theory, fiscal policy, the Green New Deal, and financial instability. She is the editor of the Elgar Companion to Modern Monetary Theory with L. Randall Wray, and her work has appeared in publications such as The Guardian and The Hill. Find her work at levyinstitute.org/publications/yeva-nersisyan

Michael Hudson is a professor of economics at the University of Missouri–Kansas City, a researcher at the Levy Economics Institute at Bard College, and the author of many books and papers on political economy, the history of economics, economic history, finance, and imperialism.  Dirk Bezemer is a Dutch economist who is a professor at the […]

It is hard to imagine life without sunglasses. So, who came up with the idea – and when? We begin this episode by going way back to the very first pair of sunglasses and I'll reveal how our modern-day sunglasses came about not all that long ago. ago. http://www.glasseshistory.com/glasses-history/history-of-sunglasses/ We have all felt that sense of wonder. It's that feeling you get when you first see the Grand Canyon or an incredible sunset or the stars above against a really dark sky. Sadly, we often lose our sense of wonder as we get older. Still, your sense of wonder is worth holding on to and developing further, according to Monica Parker. She has spent many years helping people discover how to lead lives full of wonder. Monica is author of the book The Power of Wonder (https://amzn.to/3I5F5Y4). Listen as she explains the amazing benefits of finding wonder in your world. What is money and how does it work? It may seem like a simple question yet, there is a lot of misunderstanding about it. One example is that some people worry about the federal government running out of money. What if the government can't pay its bills? Well, that can't happen according to L. Randall Wray, a professor of Economics at Bard College, Senior Scholar at the Levy Economics Institute and author of Money for Beginners: An Illustrated Guide (https://amzn.to/42BuPPG). Listen as he discusses how money works, how it has changed and what the future of money is. Some people claim they can get by on 4 or 5 hours of sleep? Really? What happens when people who sleep very little are tested against people who get a good night's sleep? Listen as I explain what happens to people who try to perform on very little sleep. https://www.restoringhealth.center/how-many-hours-of-sleep-do-you-actually-need PLEASE SUPPORT OUR SPONSORS!!! MINT MOBILE: Ditch overpriced wireless and get 3 months of premium wireless service from Mint Mobile for 15 bucks a month at ⁠⁠⁠⁠⁠https://MintMobile.com/something⁠⁠⁠⁠⁠ ! FACTOR: Eat smart with Factor! Get 50% off at ⁠⁠⁠⁠⁠⁠⁠https://FactorMeals.com/something50off⁠⁠⁠⁠⁠⁠⁠ TIMELINE: Get 10% off your order of Mitopure!  Go to ⁠⁠⁠⁠⁠⁠⁠https://Timeline.com/SOMETHING⁠⁠⁠⁠⁠⁠⁠ ROCKET MONEY: Cancel your unwanted subscriptions and reach your financial goals faster! Go to ⁠⁠https://RocketMoney.com/SOMETHING⁠⁠ QUINCE: Elevate your shopping with Quince! Go to ⁠⁠⁠⁠⁠⁠⁠https://Quince.com/sysk⁠⁠⁠⁠⁠⁠⁠ for free shipping on your order and 365 day returns! INDEED: Get a $75 sponsored job credit to get your jobs more visibility at ⁠⁠⁠⁠⁠⁠⁠https://Indeed.com/SOMETHING⁠⁠⁠⁠⁠⁠⁠ right now! DELL: The power of Dell AI with Intel inside is transforming the world of pro sports! For the players and the fans who are there for every game. See how Dell Technologies with Intel inside can help find your advantage, and power your wins at ⁠⁠⁠https://Dell.com/Wins⁠⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Steve's guest is noted economist L. Randall Wray, one of the early developers of modern money theory. As many times as this podcast has talked about MMT, it's always topical. In fact, just last week, Elon Musk discovered 14 magic money computers in government agencies! So, Trump had to hire the richest man in the world who hired who knows how many hundreds of young tech kids to discover what we've been saying for 30 years, which is that Congress appropriates money, and then the computers keystroke it into people's accounts. There's no mystery about this at all, but they think they've discovered not only something that people didn't know, but something that's, oh, it's so scary. It's nefarious that the government uses computers to increase the size of people's accounts. Well, that's spending. That's the way it's done. Clearly, this is a good time to revisit the valuable insights of MMT and look at the implications for building a society that serves its people. This episode dives deep into the fundamentals, debunking misconceptions about government spending, the role of taxes, and the myth that the US government can run out of money, like a household. Randy and Steve talk about changes in the economy due to financialization, and the difference between budget constraints and inflation constraints. Randy explains why we need to look at the history of debt in order to understand money. He talks about banking, including transactions between the Federal Reserve and the Treasury. The conversation breaks down complex concepts into relatable terms, sometimes with a touch of humor. Illustrating the creation of currency, Randy describes an imaginary scenario in which the fictional characters Robinson Crusoe and Friday devise a currency to facilitate barter. Randy: So, they come up with the idea of, ‘hey, we can use seashells as a medium of exchange.' And this is where money came from. It was Robinson Crusoe and Friday. Okay, think about this a little bit. It's pretty bizarre. We've got Crusoe and Friday marooned on a desert island. I can think of two much more likely scenarios. Okay, one, Crusoe came from Europe. What do Europeans do when they come across native people? Steve: Kill them. Anyone with an interest in how the economy truly operates will learn something from this episode. L. Randall Wray is a Professor of Economics at the Levy Economics Institute of Bard College, and Emeritus Professor at University of Missouri-Kansas City. He is one of the developers of Modern Money Theory and his newest book on the topic is Understanding Modern Money Theory: Money and Credit in Capitalist Economies (Elgar), forthcoming in spring 2025. Recent books on MMT include Making Money Work for Us (Polity, November 2022), a companion illustrated guide, Money For Beginners (Polity, May 2023, with Levy Institute graduate Heske Van Doornen), and the third edition of Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems (Springer, 2024). He is also the author of Why Minsky Matters (Princeton, 2015) as well as the author, co-author, and editor of many other books. Find more of his work at levyinstitute.org

The Roundtable Panel: a daily open discussion of issues in the news and beyond. Today's panelists are CEO of The Business Council of New York State Heather Mulligan, Siena College Professor of Economics, Aaron Pacitti, Associate Professor of Government at Dutchess Community College and since 2023, she has been President of the World Affairs Council of the Mid-Hudson Valley Dr. Karin Riedl, and Economist, working as Associate Professor of economics at Bard College, President of the Levy Economics Institute, and expert at the Institute for New Economic Thinking Pavlina Tcherneva.

Guest: James K. Galbraith is Professor of Government at the University of Texas at Austin.  He is also a Senior Scholar with the Levy Economics Institute of Bard College and part of the executive committee of the World Economics Association; and is the author of several books including his latest, Entropy Economics: The Living Basis of Value and Production co-authored with  Jing Chen.   The post James Galbraith on Tariff Wars, Inflation, Recession, & the Politics of the Trump's Economy appeared first on KPFA.

History doesn't stand still, and every time we talk about BRICS on this podcast, there's more to unpack. To understand the significance of BRICS, we must begin with (wait for it) monetary sovereignty. Economist Yan Liang is an expert on China's economy and MMT. She joins Steve to discuss the evolving role of the BRICS nations (Brazil, Russia, India, China, South Africa) and the increasing number of countries becoming involved in challenging US dollar hegemony and the current global financial system. Weaponizing of the US dollar has reached an all-time high. Yan explains the specific ways in which US-dominated international institutions and dollar dependency impede development in the Global South. The episode looks at the significance of de-dollarization and its possible longterm effects. Yan also touches on the importance of technology transfer and intellectual property rights in building sustainable economies. Yan Liang is Peter C and Bonnie S Kremer Chair Professor of Economics at Willamette University. She is also a Research Associate at the Levy Economics Institute, a Non-Resident Senior Fellow at the Global Development Policy Center (Boston University), and a Research Scholar of the Global Institute for Sustainable Prosperity. Yan specializes in the Modern Monetary Theory (MMT), the Political Economy of China, Economic Development, and International Economics. Yan's current research focuses on China's development finance and industrial transformation, and China's role in the global financial architecture. @YanLian31677392 on X

L. Randall Wray is a professor of Economics at Bard College and Senior Scholar at the Levy Economics Institute who is a long-term proponent of Modern Monetary Theory, a heterodox macroeconomic theory that teaches the government should not worry about accruing debt, because it is always able to print more money to service that debt. This is one of those theories that sounds too good to be true - how could it be that there's nothing wrong with debt, and that there's nothing stopping a country like the United States from spending as much as it wants on social services and public works projects? At the heart of the theory, the piece that makes the whole thing go, is a huge shift in the way that we understand money. Instead of seeing it as an immutable unit of exchange, MMT theorists argue that money is primarily a money of account - which is simply a ledger system for keeping track of who owes what to whom. We take apart Wray's story of the history of money, with a detour into Medieval tally sticks, how barter systems evolve into monetary ones, and how central banking sealed our economic fate, and how debt is far more valuable than we realize. Sign up for our Patreon and get episodes early + join our weekly Patron Chat https://bit.ly/3lcAasB AND rock some Demystify Gear to spread the word: https://demystifysci.myspreadshop.com/ OR do your Amazon shopping through this link: https://amzn.to/4g2cPVV (00:00) Go! Who is Randall Wray? (00:05:03) Money's Origins and Importance (00:13:55) Development of Writing and Record-Keeping (00:26:00) Tribal Justice Systems (00:35:51) Ledger and Barter Systems (00:41:58) Tally Sticks and Medieval Finance (00:52:30) Transition from Tally Sticks to Central Banking (01:02:33) Central Banking and its Origins (01:19:17) The Role of Central Banks in Preventing Bank Runs (01:26:57) Tax Liabilities and Money Demand (01:37:10) Currency Redemption and Economic Circulation (01:46:08) Fiscal Policy and Future Burden (01:56:20) The Role of the Federal Reserve and Treasury (02:04:40) Bond Market and Fiscal Management (02:13:22) Government Spending and Inflation (02:20:22) Oil Price Shocks and Policy Responses (02:30:03) Dollar Dominance and Financial Trust (02:35:00) Future Economic Questions #sciencepodcast, #longformpodcast, #ModernMonetaryTheory, #EconomicsExplained, #MoneyOrigins, #CentralBanking, #FiscalPolicy, #GovernmentSpending, #DebtEconomy, #WilliamOfOrange, #BankOfEngland, #InflationControl, #FinancialHistory, #EconomicInsights, #MonetaryPolicy, #TaxSystem, #BondMarket, #TribalEconomies, #MoneyAndDebt, #Hyperinflation, #DollarDominance, #FinancialTrust Check our short-films channel, @DemystifySci: https://www.youtube.com/c/DemystifyingScience AND our material science investigations of atomics, @MaterialAtomics https://www.youtube.com/@MaterialAtomics Join our mailing list https://bit.ly/3v3kz2S PODCAST INFO: Anastasia completed her PhD studying bioelectricity at Columbia University. When not talking to brilliant people or making movies, she spends her time painting, reading, and guiding backcountry excursions. Shilo also did his PhD at Columbia studying the elastic properties of molecular water. When he's not in the film studio, he's exploring sound in music. They are both freelance professors at various universities. - Blog: http://DemystifySci.com/blog - RSS: https://anchor.fm/s/2be66934/podcast/rss - Donate: https://bit.ly/3wkPqaD - Swag: https://bit.ly/2PXdC2y SOCIAL: - Discord: https://discord.gg/MJzKT8CQub - Facebook: https://www.facebook.com/groups/DemystifySci - Instagram: https://www.instagram.com/DemystifySci/ - Twitter: https://twitter.com/DemystifySci MUSIC: -Shilo Delay: https://g.co/kgs/oty671

The Roundtable Panel: a daily open discussion of issues in the news and beyond. Today's panelists are Aaron Pacitti is Professor of Economics at Siena College, Pavlina Tcherneva is an American economist, working as professor of economics at Bard College. She is President of the Levy Economics Institute and an expert at the Institute for New Economic Thinking, and Wall Street Investment Banker Mark Wittman.

Robert Misik in conversation with James Galbraith INFLATION, SANCTIONS AND INDUSTRIAL POLICYThoughts on the Disorder in Economic Thought   James K. Galbraith, one of the leading left-wing American economists, examines the economic policy debates in the USA and Europe: inflation has led to real wage losses in Europe, but also to rising costs for companies, particularly in industry. However, the USA has been quicker to get inflation under control and, with the Biden administration's “Inflation Reduction Act”, has put together a package of investments in infrastructure as well as subsidies for ecological transformation. But is this the new form of industrial policy that is needed? Galbraith is skeptical. In Europe, on the other hand, the spectre of “de-industrialization” is already being raised, not least due to the rise in energy prices and production costs in general. How can the European economy respond to this? The programs to date are little more than a drop in the ocean. What needs to be done to achieve a prosperous economy that lifts all boats, not just the luxury yachts? Justice, innovation and ecological transformation – do they go together?   James Galbraith is an American economist. He is currently a professor at the Lyndon B. Johnson School of Public Affairs and at the Department of Government, University of Texas at Austin. He is also a Senior Scholar with the Levy Economics Institute of Bard College and part of the executive committee of the World Economics Association, created in 2011. Robert Misik, Author and Journalist

Guests this week: Lakshman Achuthan and Jim WelshLakshman Achuthan Co-founder of ECRI The leading predictor of cycle turning points.For over 30 years Lakshman has been studying business cycles and working with clients.In 2004, he co-authored Beating the Business Cycle: How to Predict and Profit from Turning Points in the Economy.Lakshman met his mentor, Geoffrey H. Moore, at Columbia University in 1990. After working together for years, with co-founder Anirvan Banerji, the three left Columbia to start ECRI in 1996.He also serves on the Board of Governors for the Levy Economics Institute of Bard College.Jim Welsh Jim has published a monthly investment letter since 1985 that focuses on Federal Reserve monetary policy, the economy, and the financial markets. He has managed a mutual fund, worked for major wire-houses, and has been widely published in financial media. Jim was Forward Funds' ($5.5 billion) Macro Tactical strategist for a number of years, and provides high quality economic and technical market analysis for advisors and investors as a guide to portfolio allocation and tactical portfolio changes. Welsh's Macro Tides models identify trend changes in the domestic & international equity markets, fixed income, currency (USD & Euro) and Gold markets.Host Tracy Shuchart (@chigrl)Follow @MicDropMarkets on X

**RP Book Club is beginning a new series, Sunday April 7, 14, and 21, at 3pm ET/12pm PT. Register once for all three sessions. realprogressives.org/event/rp-book-club-the-communist-manifesto/2024-04-07L. Randall Wray talks with Steve about the concept of value in the context of MMT. Randy discusses the labor theory of value and the liquidity premise theory, saying both approaches are critical to understanding how money works in a capitalist economy.Randy looks at the historical development of economic thought and the neoclassical revolution of the 1870s, which aimed to prove that a free-market economy could reach equilibrium without considering money. He explains why this just isn't so. He compares and contrasts the intentions and conclusions of Keynes and Marx. He emphasizes the need to look beyond surface phenomena and understand the structure of the capitalist economy to determine the value of money.The conversation also goes into the importance of the federal job guarantee in setting wages and stabilizing the value of labor.L. Randall Wray is a Professor of Economics at Bard College and Senior Scholar at the Levy Economics Institute.www.levyinstitute.org

The American people see through mainstream claims of “the greatest economy ever.” They are confronted by evidence to the contrary every day.Steve and his guest, economist Yeva Nersisyan, take a deep dive into the current US economy, looking at the repercussions of the high costs of education, healthcare, and housing.They discuss different perspectives on the causes of inflation and talk about Isabella Weber's work on “sellers' inflation” and its relationship to monopoly power. They argue that the drive for corporate profits, leading to abusive price-setting, has been the primary force behind inflation.They also talk about the effect of fiscal policy on income inequality, revealing politicians' contempt for the working class.Yeva Nersisyan is an associate professor of economics at Franklin and Marshall College in Lancaster, PA, and a research scholar at the Levy Economics Institute of Bard College.

“...the question of how to pay for it is a very complicated question but has much less to do with money than it does to do with social structure and industrial structure. And the quicker we can get away from centering the taxpayer as the goose that holds the golden egg money and more towards the questions of labor and industrial structure that are really going to affect how we provide healthcare, I think we're going to be in a better place.” — Rohan GreyIn 2022, Real Progressives helped our coalition partners, March for Medicare for All, organize a three-day educational summit on the healthcare crisis in the US. This week's episode is from the panel we put together on paying for national improved Medicare for All, featuring Geoff Ginter, Yeva Nersisyan, and Rohan Grey.The panelists discuss:The meaning of currency user vs currency creatorThe money story and order of operationsFinancial restraints vs resource constraintsThe importance of deficit spendingPrivate vs public investment and inflationary constraintsPotential impact of policies on the economyThe truth about the so-called national debtSpecific to Medicare for All, they address the problem of transitioning workers out of administrative jobs in the insurance industry. They explain why Medicare for All is likely to be deflationary rather than inflationary. And they look to history to suggest ways of attracting healthcare workers to underserved locations.Geoffrey Ginter is a New Jersey based certified medical assistant, activist, and MMT evangelist. Yeva Nersisyan is an associate professor of economics at Franklin and Marshall College and a research scholar at the Levy Economics Institute at Bard College.Rohan Grey is an Assistant Professor of Law at Willamette University and the founder and president of the Modern Money Network. MintTheCoin.org@rohangrey on Twitter

Enjoy this short snippet of our first episode coming out later this month. Guest Host John Harvey of Texas Christian University sits down with Senior Scholar James K. Galbraith. The Levy Institute Podcast will delve into conversations in public policy that move beyond conventional approaches. Subscribe and stay tuned for more information!   https://www.levyinstitute.org/

Get your DEMYSTICON 2024 tickets here: https://www.eventbrite.com/e/demysticon-2024-tickets-727054969987 Dr. Michael Hudson is an American economist, Professor of Economics at the University of Missouri–Kansas City and a researcher at the Levy Economics Institute at Bard College, former Wall Street analyst, political consultant, commentator and journalist. Dr. Steve Keen is an Australian economist and author. A post-Keynesian, he criticizes neoclassical economics as inconsistent, unscientific and empirically unsupported. Our conversation examines the false dichotomy of capitalism v. socialism and considers the true dichotomy, which is industrial capitalism v. finance capitalism. Hudson and Keen argue that the transition to finance capitalism, where unearned income is considered economic growth, has truly sown the seeds to ruin the world. Tell us what you think in the comments or on our Discord: https://discord.gg/MJzKT8CQub Sign up for a yearly Patreon membership for discounted conference tickets: https://bit.ly/3lcAasB Support DSPod and the guests when you pick up their books here: Hudson books: https://amzn.to/3Sx6k43 Keen books: https://amzn.to/3MFJ14i (00:00:00) Go! (00:00:19) What we're really talking about is finance capitalism (00:03:25) What is Capitalism? (00:17:55) Was the end of the Happy Days inevitable? (00:28:50) A more nuanced dichotomy than capitalism vs socialism (00:36:02) Why does GDP still manage to slow down? (00:46:32) Why is debt so stifling? (00:55:29) What happens to the money that accumulates at the top (01:01:39) The shape of global financial pressure (01:11:02) Modern examples of debt jubilees (01:19:12) Solutions without collapse? (01:23:13) Persistent economic myths (01:45:38) Strange realities of cancelling student debt (02:03:40) Financializing the basic structures of society (02:15:07) How to structure the next iteration (02:27:48) Doomer optimism (02:33:47) A new, more effective state (02:39:25) Closing thoughts #FinanceCapitalism, #EconomicInequality, #WealthGap, #CorporateGreed, #FinancialSystem, #CapitalismCritique, #IncomeInequality, #GlobalFinance, #FinancialCrises, #EconomicInjustice, #WealthDistribution, #CapitalismFlaws, #FinancialDeregulation, #EconomicCollapse, #SocialJustice, #CorporatePower, #FinancialManipulation, #MarketFailures, #FinancialInsecurity, #SystemicInequality Check our short-films channel, @DemystifySci: https://www.youtube.com/c/DemystifyingScience AND our material science investigations of atomics, @MaterialAtomics https://www.youtube.com/@MaterialAtomics Join our mailing list https://bit.ly/3v3kz2S PODCAST INFO: Anastasia completed her PhD studying bioelectricity at Columbia University. When not talking to brilliant people or making movies, she spends her time painting, reading, and guiding backcountry excursions. Shilo also did his PhD at Columbia studying the elastic properties of molecular water. When he's not in the film studio, he's exploring sound in music. They are both freelance professors at various universities. - Blog: http://DemystifySci.com/blog - RSS: https://anchor.fm/s/2be66934/podcast/rss - Donate: https://bit.ly/3wkPqaD - Swag: https://bit.ly/2PXdC2y SOCIAL: - Discord: https://discord.gg/MJzKT8CQub - Facebook: https://www.facebook.com/groups/DemystifySci - Instagram: https://www.instagram.com/DemystifySci/ - Twitter: https://twitter.com/DemystifySci MUSIC: -Shilo Delay: https://g.co/kgs/oty671

The West, led by the United States, declared economic war against Russia last month in response to the invasion of Ukraine, imposing perhaps the harshest sanctions against any nation in history. President Joe Biden has said that the aim of this economic warfare is to turn the Russian people against its government. Sanctions against Russia's Central Bank were intended to destroy the value of the ruble. One U.S. dollar was worth 85 rubles on Feb. 24, the day of the invasion and soared to 154 per dollar on March 7. However the Russian currency strengthened to 101 this morning. Putin and other Russian leaders were personally sanctioned, as were Russia's largest banks. Most Russian transactions are no longer allowed to be settled through the SWIFT international payment system. The German-Russian Nord Stream 2 gas pipeline was closed down and become bankrupt. The U.S. blocked imports of Russian oil, which was about 5 percent of U.S. supply. BP and Shell pulled out of Russian partnerships. European and U.S. airspace for Russian commercial liners was closed. Europe, which depends on Russia gas, is still importing it, and is so far rebuffing U.S. pressure to stop buying Russian oil. Other Russian commodities, such as wheat, fertilizer and metals have been cut off. A raft of voluntary sanctions followed: PayPal, Facebook, Twitter, Netflix and McDonalds have been shut down in Russia. Coca-cola has stopped sales to the country. U.S. news organizations have left, Russian artists in the West have been fired and even Russian cats are banned. It also gave an opportunity for U.S. cable providers to get RT America shut down. Other Russia media have been de-platformed and Russian government websites hacked. A Yale University professor has drawn up a list to shame U.S. companies that are still operating in Russia. The West's economic war and lethal aid to Ukraine are in lieu of a direct military confrontation with Russia, with all of the unimaginable consequences that could bring. But so far the sanctions do not seem to be working as planned. China has come to Moscow's rescue, buying more oil and other commodities from Russia. Beijing has allowed Russia to use its Union Pay banking system, replaced Russia's use of SWIFT with China's Interbank System (CIPS), and China and the Eurasia Economic Union (EAEU), which Russia is a part of, are designing a new monetary and financial system that would bypass the U.S. dollar, threatening it as the world's reserve currency. That has led the U.S. to try to tie China to the war in Ukraine so that it can impose new sanctions on Beijing , perhaps similar to those on Russia. The United States is acting as though the whole world is the West and that this is the China of 30 years ago. In its effort to impose its unilateral rule on the world, while its domestic social problems mount, the U.S. has not only driven Russia and China closer together than ever, but it has now brought in India, Latin America, Africa and the Middle East into a new bloc with an economic power that exceeds the West. All of those regions have refused to sanction Russia and continue to trade with it. The U.S. has turned the majority of the world's population against it. We might be witnessing the end of Western-dominated globalization and the birth of a divided world of two separate economic, financial and commercial systems. Cutting off trade and finance to Russia has already boomeranged on Western countries, driving up prices, especially at the pump and at the supermarket. Instead of prompting a popular uprising in Russia as a result of its sanctions, Russian President Vladimir Putin's popularity has actually risen since the invasion. Adding China as a target of its economic war could drive the populations of the U.S. and Europe against their own governments instead. Joining us to discuss these issue are two leading economists, Prof. Michael Hudson,  Professor of Economics at the University of Missouri–Kansas City and a researcher at the Levy Economics Institute at Bard College, and Prof. Richard Wolff, Emeritus Prof. of Economics at the MassAmherst and a visiting Prof. at The NewSchool in New York.

**If you'd like to discuss this episode with friends and comrades, join our Macro ‘n Chill listening party on Tuesday evening at 8 ET/5 PT. For the Zoom registration link, go to realprogressives.org/rp-events-calendar/Understanding how monetary sovereign governments create and spend money means looking at the Treasury department and the central bank or, in the US, the Federal Reserve.Economist Eric Tymoigne explains two approaches to understanding the relationship: the consolidated and the collaborative, or cooperative, version of the Treasury and the Fed.The consolidated approach merges the Fed and the Treasury into one entity and analyzes the implications of this merger on public finance. It emphasizes that taxes and government securities don't fund the government, but rather, the government spends by crediting accounts. (This comes as no surprise to MMTers.)The consolidated approach also highlights the importance of injecting reserves into the economy before taxes can be collected or government securities can be sold. The coordinated approach recognizes the separate roles of the Treasury and the Fed but emphasizes the extensive coordination between the two entities.Eric walks us through these operations and touches on the relationship with private banking and the role of reserves on the international stage.Listening to this episode, you can't help but conclude that the ways in which the US manages monetary operations are not consistent with budgetary needs. It's hard to see how it has anything to do with provisioning our society.Eric Tymoigne is an Associate Professor of Economics at Lewis & Clark College, Portland, Oregon, and Research Associate at the Levy Economics Institute of Bard College.@tymoignee on Twitter

RP Book Club spent four weeks on The Case for a Job Guarantee, by Pavlina R. Tcherneva. Each week featured a different guest expert who led the discussion and answered questions. Listeners to this podcast will recognize their names, including Pavlina herself, Fadhel Kaboub, Ben Wilson, and Rohan Grey. We were also honored to have Bill Black and June Carbone join in.For this episode, Macro N Cheese is releasing the audio recording of all four sessions. Since it is unusually long, the time codes for each segment are included below.[00:03:09 - 01:55:41] Session OneGuest: Fadhel KaboubIntroductionChapter 1, “A Public Option for Good Jobs”Chapter 2, “A Steep Price for a Broken Status Quo”[01:55:41 - 03:17:41] Session TwoGuest: Pavlina TchernevaChapter 3, “The Job Guarantee, a New Social Contract and Macroeconomic Model”Chapter 4, “But How Will You Pay for It?”[03:18:44 - 04:41:57] Session ThreeGuest: Ben WilsonChapter 5, “What, Where, and How: Jobs, Design, and Implementation”[04:41:57 - 06:29:43] Session FourGuest: Rohan GreyChapter 6, “The Job Guarantee, the Green New Deal, and Beyond”Use this link to order a copy of The Case for a Job Guarantee, by Pavlina R. TchernevaDr. Fadhel Kaboub is Under-Secretary-General for Financing for Development of the Organisation of Educational Cooperation (OEC). He is an Associate Professor of Economics (on leave) at Denison University and President of the Global Institute for Sustainable Prosperity.@FadhelKaboub on TwitterPavlina R. Tcherneva is an Associate Professor of Economics at Bard College, the Director of OSUN's Economic Democracy Initiative, and a Research Scholar at the Levy Economics Institute, NY.  She specializes in modern money and public policy. Find her work at pavlina-tcherneva.net@ptcherneva on TwitterBenjamin C. Wilson is an Associate Professor of Economics at the State University of New York at Cortland and a research scholar at the Global Institute for Sustainable Prosperity.@autogestion77 on TwitterRohan Grey is an Assistant Professor of Law at Willamette University in Salem, Oregon, and the founder and president of the Modern Money Network. MintTheCoin.org@rohangrey on Twitter

**Don't forget to check out our transcripts! There's one for every episode of this podcast, as well as a section of “extras” with links to relevant resources. Go to realprogressives.org/macro-n-cheese-podcast/ This week we're bringing you all three sessions of the Real Progressives Book Club on L. Randall Wray's Making Money Work for Us. RP Book Club is run by our volunteers with guest experts leading the discussion and taking questions from attendees. This is much longer than our usual episodes of Macro N Cheese, so we've included the time codes for each session. [1:43] — Session One Guest economist Eric Tymoigne Chapter 1, What is Money? Chapter 2, Where Does Money Come From? [1:14:35] — Session Two Guest economist Yeva Nersisyan Chapter 3, Can We Have Too Much Money? Chapter 4, Balances Balance Chapter 5, Life is Full of Trade-Offs [2:43:33] — Session Three Guest economist Randy Wray Chapter 6, The MMT Alternative Framework for Policy Chapter 7, MMT and Policy Use this link to order the book: Making Money Work for Us: How MMT Can Save America by L. Randall WrayEric Tymoigne is an Associate Professor of Economics at Lewis & Clark College in Portland, Oregon; and Research Associate at the Levy Economics Institute of Bard College. @tymoignee on Twitter. Yeva Nersisyan is an Associate Professor of economics at Franklin and Marshall College and a Research Scholar at the Levy Economics Institute. L. Randall Wray is a Professor of Economics at Bard College and Senior Scholar at the Levy Economics Institute.

If you've recently chatted with a well-informed liberal – the kind who reads the NY Times or watches PBS NewsHour – you've heard encouraging things about the economy. You've heard that Biden's doing a good job. Unemployment has gone down, wages have gone up. Why can't you be happy about it all?To celebrate all this good news, we brought back our friend, Yeva Nersisyan, associate professor of economics at Franklin and Marshall College, research scholar at the Levy Institute, and frequent collaborator with MMT OG Randy Wray.Yes, unemployment rates are lower, but we know those numbers don't tell the true story. Or have you already forgotten our episode with Pavlina, just two short weeks ago? Yes, wages have gone up. But so has inflation. And in the race between inflation and wages, inflation is winning. Speaking of which, our Macro N Cheese family knows that one thing worse than inflation is the Fed's cure for it.In this episode, Steve and Yeva look at the disconnect between the ongoing immiseration of the working class and the rosy scenario painted by politicians, pundits, and economists. At least one of those groups should know better. They discuss the looming student debt crisis, and the effect of the Fed's interest rate hikes on student loans.When discussing MMT-informed solutions, Yeva warns:“You have to be consistent — whether it's the Trump tax cuts, whether it's the social security question. And you have to consistently say: the question of taxes and government spending, it should not be about deficits, should not be about debt, it should be about: is this the right thing for the economy? Is this what the people want? Is this what the people need? That's what you need to start with. And just because you want to raise taxes on the wealthy, which I do too, but I don't want to tie it to things like social security, because I think that's just a losing argument, and that's just not true.”MMT points toward answers, if anyone is asking.Yeva Nersisyan is an associate professor of economics at Franklin and Marshall College in Lancaster, PA, and a research scholar at the Levy Economics Institute of Bard College.

When economist Pavlina Tcherneva was last on this podcast, we were a few months into the pandemic. She and Steve talked about nationalizing payroll and the heightened need for a federal job guarantee during a time of crisis.In this episode, the neoliberal approach to unemployment comes under scrutiny. Pavlina explains the inadequacy of official unemployment data. She looks at the problem from several angles, including geography, demographics, and of course, economics.Pavlina and Steve discuss MMT, the politics of NAIRU, and the debt ceiling. They look at a job guarantee as an automatic stabilizer, similar to entitlements like social security and unemployment insurance, possibly shielding it from shifting political tides.Pavlina tells Steve about her collaboration with the Democratizing Work Initiative, a group of academics who are organizing around the principles of democratizing work, decommodifying labor, and decarbonizing the planet.Pavlina Tcherneva is an Associate Professor of Economics at Bard College, the Director of OSUN's Economic Democracy Initiative, and a Research Scholar at the Levy Economics Institute, NY.  She specializes in modern money and public policy. Find her work at pavlina-tcherneva.net@ptcherneva on Twitter

Where and when did someone come up with the idea for sunglasses? This episode begins with a brief history that goes way back in time to the very first sunglasses and how our modern-day sunglasses came about not so long ago. http://www.glasseshistory.com/glasses-history/history-of-sunglasses/ You know what wonder is. It's that feeling you get when you see the Grand Canyon for the first time or a double rainbow or a beautiful sunset. The problem is we tend to lose our sense of wonder over time. Still, it is an emotion worth developing according to Monica Parker. She is a world-renowned speaker who has spent decades helping people discover how to lead and live wonderfully. She is also author of the book The Power of Wonder (https://amzn.to/3I5F5Y4). Listen as she explains the amazing mental, emotional and physical benefits of finding wonder in your world – and exactly how to do it.  What is money and how does it work? There is a lot of misunderstanding about this topic. For example, people worry about the federal government running out of money or not being able to pay its bills. That can't happen according to L. Randall Wray, a professor of Economics at Bard College, Senior Scholar at the Levy Economics Institute and author of Money for Beginners: An Illustrated Guide (https://amzn.to/42BuPPG). Listen as he discusses how money works, how it has changed and what the future of money is.  You know those people who say they can get by with 4-5 hours of sleep? Really? What happens when you test people who sleep so little compared to people who sleep a full 8 hours? Listen as I explain what happens to people who try to perform on very little sleep. https://www.restoringhealth.center/how-many-hours-of-sleep-do-you-actually-need PLEASE SUPPORT OUR SPONSORS! The Daily Boost Podcast is the most popular and longest-running personal growth podcast in the world - for a good reason. Every episode delivers a positive boost of daily motivation and coaching designed to help you get what you want - no matter what gets in the way! Be sure to get your Daily Boost at https://motivationtomove.com today! Discover Credit Cards do something pretty awesome. At the end of your first year, they automatically double all the cash back you've earned! See terms and check it out for yourself at https://Discover.com/match If you own a small business, you know the value of time. Innovation Refunds does too! They've made it easy to apply for the employee retention credit or ERC by going to https://getrefunds.com to see if your business qualifies in less than 8 minutes! Innovation Refunds has helped small businesses collect over $3 billion in payroll tax refunds! We really like The Jordan Harbinger Show! Check out https://jordanharbinger.com/start OR search for it on Apple Podcasts, Spotify or wherever you listen!  Learn more about your ad choices. Visit podcastchoices.com/adchoices

In September, Real Progressives had a webinar with Michael Hudson. It gave our volunteers the opportunity to ask him about his book, The Destiny of Civilization: Finance Capitalism, Industrial Capitalism, or Socialism. This week's podcast brings you the audio of that event.Although his book looks at three economic philosophies, the Q & A focused on contrasting the dynamics of finance capitalism and industrial capitalism. Michael makes the case that in its early days industrial capitalism promoted investment in public infrastructure and basic services, allowing industry to invest in development.Finance capitalism basically sought to break away and consume all of the public infrastructure. Most financial fortunes are made by privatizing the public domain – natural resources and public utilities yield fortunes in economic rent without private investment. This has led to the US, for example, turning over its economic planning to the financial sector.“The objective of finance capitalism, contrary to what's taught in the textbooks, is to make economies high cost, to raise the cost every year.”When asked about debt deflation, Michael explains that the increase in consumer debt leaves less and less money to be spent on consumption.“Right now, you're having the debt-ridden American economy being squeezed. More and more money is paid, not only for debt, but also for other overhead, like healthcare and various monopoly services that are not available to buy goods and services. Debt deflation is when the growth of debt exceeds the rate of growth of the economy. And that's true of every economy.”Since 1945, every recovery in the US and the other western economies has been accompanied by rising levels of debt, making each recovery slower.Michael talks about the current global political economy, oil prices, debt jubilees, monetary hegemony, and the US political parties. When asked for solutions, his answers might be troubling to some. It's worth hearing him out.Michael Hudson is an American economist, Distinguished Research Professor of Economics at the University of Missouri–Kansas City and a research associate at the Levy Economics Institute at Bard College. He is a former Wall Street analyst, political consultant, commentator and journalist.

Hosted by Andrew Keen, Keen On features conversations with some of the world's leading thinkers and writers about the economic, political, and technological issues being discussed in the news, right now. In this episode, Andrew is joined by Daniel Akst, author of War by Other Means: The Pacifists of the Greatest Generation Who Revolutionized Resistance. A native New Yorker, Daniel Akst is a writer whose work has appeared in the New York Times, Wall Street Journal, Los Angeles Times, Boston Globe, Slate, and other leading publications. He has written scores of book reviews over the years and was a board member of the National Book Critics Circle. He has been a Koret Fellow at the University of California (Berkeley) Graduate School of Journalism, a public policy scholar at the Woodrow Wilson International Center in Washington, DC, and a public policy fellow at the Levy Economics Institute of Bard College. Learn more about your ad choices. Visit megaphone.fm/adchoices

Grumbine: Can we have too much money? Wray: Yes, we surely can. Usually, our problem is that there's too much bank money, and the usual consequence is a financial crisis. Obviously, Steve and his guest are talking about the nation, not their own wallets. In this episode, he welcomes L. Randall Wray to Macro N Cheese for the eighth time to talk about Randy's new book, "Making Money Work for Us: How MMT Can Save America," which will be released in America in November. Our listeners know they can count on Randy to explain MMT principles clearly without drowning us in a sea of wonkiness, but, also, without oversimplifying the subject. Consider the above exchange... and then this: Wray: Money cannot cause inflation. I can state that unequivocally. MMT understands that those two statements are not contradictory. Randy talks about the banks financing too much speculative activity that goes bad, usually resulting in a financial crisis. Extensive government spending – when it's targeted, as in a job guarantee – does not cause a crisis, does not cause inflation. He contrasts this to the wrong kind of government spending, and describes how it is inflationary (cough, UBI). Steve and Randy go through the other questions that MMT is uniquely able to answer in a way that isn't disconnected from our real-world observations. What is money and how is it created? What does it mean when you say “taxes drive money”? They discuss deficits and debt – and why it is that the few times the US repaid part of the national debt, it led to a depression, except under Bill Clinton, when it led to the great financial crisis. You'll want to listen to this episode just for the discussion of the Fed and the banks. The CEO's should all be locked up. L. Randall Wray is a Professor of Economics at Bard College and Senior Scholar at the Levy Economics Institute. www.levyinstitute.org

Edited highlights from Harvard Kennedy School research fellow Paul Sheard's presentation on quantitative easing at the Levy Economics Institute's recent summer seminar.   Video of this event: https://youtu.be/0MrWQvvGAZM   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   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/   More on quantitative easing: Episode 59 - Warren Mosler: What Do Central Banks Do?:https://www.patreon.com/posts/39070023 Paul Sheard:“Repeat After Me: Banks Cannot And Do Not "Lend Out" Reserves”: https://www.hks.harvard.edu/sites/default/files/centers/mrcbg/programs/senior.fellows/2019-20%20fellows/BanksCannotLendOutReservesAug2013_%20(002).pdf Paul Sheard: “A QE Q&A: Everything You Ever Wanted To Know About Quantitative Easing”: https://www.hks.harvard.edu/sites/default/files/centers/mrcbg/files/PSheardQEQAAugust2014.pdf   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   Sign up for Professor Bill Mitchell's online MMT 101 course (Sep 14 - Oct 12 2022): https://www.edx.org/course/modern-monetary-theory-economics-for-the-21st-century   Details of Modern Money Lab's online grad and postgrad courses in MMT: https://modernmoneylab.org.au/   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/71589954?pr=true   Show notes: https://www.patreon.com/posts/71589989?pr=true

Why have we been told there isn't a magic money tree? And could such a thing actually exist? Alex Andreou discusses this question and unpacks modern monetary theory with L. Randall Wray, a senior scholar at the Levy Economics Institute of Bard College who has authored several books on the subject.  “For a very long time we've had a view that finance is a scarce resource.” “What we have is this belief that the Government is just like a household and it could run out of money.”  “There appears to be no limit to the private financial sector's ability to layer up more debt.”  “Politicians are scared to death of inflation… politically, it is a huge issue.”  “We argue we should focus on resource availability and the public purpose.”  “The economy decides what the deficit will be – it takes two to tango.”  https://www.patreon.com/bunkercast Written and presented by Alex Andreou. Lead Producer: Jacob Jarvis. Producers: Jacob Archbold and Jelena Sofronijevic. Assistant Producer: Elina Ganatra. Audio production by Robin Leeburn. THE BUNKER is a Podmasters Production Learn more about your ad choices. Visit megaphone.fm/adchoices

Patricia and Christian talk to economic anthropologist and co-founder of the Debt Collective, Professor Hannah Appel about the growing movement for debt abolition and where MMT fits in with it.   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: Listen to our first three episodes: https://www.patreon.com/posts/41742417   All our episodes in chronological order: https://www.patreon.com/posts/43111643   For more on The Debt Collective: https://debtcollective.org/what-we-do/debt-abolition/#faqs   The Debt Collective on Twitter: https://twitter.com/StrikeDebt   NYT Student Debt Editorial, Annotated by the Debt Collective: https://medium.com/@debtcollective/nyt-student-debt-editorial-annotated-by-the-debt-collective-ccafa6e3a3dc   The Debt Collective - “Cancel Student Debt: The Best Answers To The Toughest Questions”: https://medium.com/@debtcollective/cancel-student-debt-the-best-answers-to-the-toughest-questions-3e4309877db6     Hannah Appel - “Debtors Of The World Unite”: https://bostonreview.net/articles/debtors-world-unite/   Attend online events from the Levy Economics Institute summer seminar, June 11–18, 2022 (NB session times are in eastern time): https://www.levyinstitute.org/conferences/summer_sem_public_schedule_6_2.pdf   For more on the Edward Lipiński Foundation's MMT Summer School in Poznań, Poland (10th - 14th August 2022): https://fundacjalipinskiego.pl/wydarzenia/mmt-summer-school-2022/   Sign up for alerts from The Gower Initiative For Modern Money Studies about their forthcoming MMT book: https://gimms.org.uk/       More 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 “An Accounting Model of the UK Exchequer – 2nd edition” by Andrew Berkeley, Richard Tye & Neil Wilson: https://gimms.org.uk/2021/02/21/an-accounting-model-of-the-uk-exchequer/ Our episodes about “An Accounting Model of the UK Exchequer”: Part 1: https://www.patreon.com/posts/46352183 Part 2: https://www.patreon.com/posts/46865929    More on inflation: 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   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/67518447   Show notes: https://www.patreon.com/posts/67518491

Andrea Terzi is Professor of Economics at Franklin University Switzerland and Research Associate at the Levy Economics Institute of Bard College, New York. He has taught at Rutgers University, the Institute for International Studies in Florence, the European College of Parma, and Catholic University. His research interests include central banking, monetary operations, macro-financial accounts, and the effects of monetary and fiscal policy on private savings and aggregate demand.He has authored numerous scholarly articles in the fields of macro-monetary economics. Terzi's co-authored and co-edited 2007 book from Palgrave Macmillan (Euroland and the World Economy) offered an early diagnosis of Europe's unsustainable path, and his commentary on the Euro crisis and the flaws of conventional monetary economics has been highlighted in the media.Terzi holds a degree with honors in political economy from Bocconi University and a Ph.D. in economics from Rutgers University, was a Jean Monnet Fellow at the European University Institute, and serves on the editorial boards of the European Journal of Economics and Economic Policies: Intervention and the Journal of Post Keynesian Economics. DONATE TODAYA note from Lev:I am a high school teacher of history and economics at a public high school in NYC, and began the podcast to help demystify economics for teachers.  The podcast is now within the top 2.5% of podcasts worldwide in terms of listeners (per Listen Notes) and individual episodes are frequently listed by The Syllabus (the-syllabus.com) as among the 10 best political economy podcasts of a particular week.  The podcast is reaching thousands of listeners each month.  The podcast seeks to provide a substantive alternative to mainstream economics media; to communicate information and ideas that contribute to equitable and peaceful solutions to political and economic issues; and to improve the teaching of high school and university political economy. I am looking to be able to raise money in order to improve the technical quality of the podcast and website and to further expand the audience through professionally designed social media outreach. I am also hoping to hire an editor. Our goal is to raise $12,000 this year. If you can donate a few dollars each month it will help us reach that goal. And if you know of a family foundation that might be interested in donating to A Correction please be in touch. Thank you! (And a huge thank you to all of the people who have already supported the podcast!)Best, Lev

Real Progressives and Macro N Cheese are committed to bringing MMT to activists and folks with no background in economics. Many of us were only interested in learning how MMT disrupts the concept of taxes funding federal programs, but the more we know, the more we want to understand. MMT is funny that way. If you're new to MMT, this week's interview with L. Randall Wray might appear to be wonky and intimidating. But we urge you to listen and promise it will be worth it. We've had a few episodes dealing with inflation in recent weeks because that's where we are at this particular time in history. We believe it can't be talked about often enough because we're surrounded by misinformation in the mainstream media and lies from the mouths of so-called experts. Steve invited Randy to talk about the recent paper he co-authored with Yeva Nersisyan, another friend of this podcast. The title speaks volumes: Is It Time for Rate Hikes? The Fed Cannot Engineer a Soft Landing but Risks Stagflation by Trying. To put it bluntly, confronting inflation by raising interest rates is dangerous. Randy describes the catastrophic chain reaction – causing bankruptcies at home and tanking the economies of developing nations. He explains in detail how this happens, both to individuals and nations. The ‘experts' love to blame government spending for today's inflation – especially the paltry stimulus checks disbursed during the pandemic. Wages are another favorite culprit. Listeners to this podcast know these are not the causes. (How long ago were those damn checks?) However, both the pandemic and the current war have brought us supply chain disruptions. We can also look to corporate manipulation of prices and markups: “And they're very open about this. When they have their meetings with shareholders and others, they say, look, our customers are not going to blame us if we hike up the markups and take more profits, because they realize that inflation is creeping up. So, they're not going to blame us. So, let's do it. And they are.” Randy defines stagflation and its causes. He compares today's inflation to that of the 1970s along with the actions of the infamous Paul Volcker. He explains why the Fed's “tools” for fighting inflation are no tools at all. He suggests a legitimate role for a central bank includes protecting the public from banking fraud. He replies to Steve's question about eliminating the interest rate altogether: “This was actually Keynes's proposal to have a zero overnight interest rate. His proposal was to euthanize the entire rentier class. You all know what euthanize means. Mercy killing of the rentier. That is the class of people that live off collective interest. He saw them as functionless in the economy. They don't serve any useful function. So, let's euthanize them now. Keynes didn't really mean kill.” Steve talks of people's desperation as they look for solutions to the real-life problems that are not on the Fed's radar. Inflation could be addressed with targeted spending on behalf of the public using the fiscal power of Congress. Expecting the Federal Reserve to fix it with interest rate adjustments is like giving a child a fake steering wheel in the back seat and expecting them to drive the car. L. Randall Wray is a Professor of Economics at Bard College and Senior Scholar at the Levy Economics Institute. www.levyinstitute.org/scholars/l-randall-wray

Patricia and Christian talk to economist and President of the Global Institute For Sustainable Prosperity Professor Fadhel Kaboub about how global food and energy systems have been fostered to benefit the global north at the expense of the global south, and how understanding modern money is vital to untangling the mess.   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: 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   Stay current with Fadhel via Twitter: https://twitter.com/FadhelKaboub   Episode 12 - Fadhel Kaboub: Monetary Sovereignty, Colonialism and Independence: https://www.patreon.com/posts/41790149   Bill Mitchell - “Zimbabwe for hyperventilators 101”: http://bilbo.economicoutlook.net/blog/?p=3773     Register for events at the Modern Money Network's 4th Annual MMT Conference (held online over the next six weekends in April and May): https://events.modernmoney.network/category/7/     More on monetary operations: 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     More on inflation: 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   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757 Details for the Levy Economics Institute of Bard College 2022 Summer Seminar: https://www.levyinstitute.org/news/summer-seminar-2022   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/65378023   Show notes: https://www.patreon.com/posts/episode-131-free-65377999

Patricia and Christian talk to scholar, researcher, CUNY lecturer and executive director of Public Money Action, Andrés Bernal about his most recent paper “Inflationary Pressures in the Time of Covid-19: MMT as a Theory of Inflation”.   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: Listen to our first three episodes: https://www.patreon.com/posts/41742417   All our episodes in chronological order: https://www.patreon.com/posts/43111643     Register for events at the Modern Money Network's 4th Annual Conference (to be held online over the next four weekends in April): https://events.modernmoney.network/category/7/   Patricia and Christian will be on this panel “MMT Content Production and Publication”: https://events.modernmoney.network/event/12/   “Inflationary Pressures in the Time of Covid-19: MMT as a Theory of Inflation” by Andrés Bernal: http://www.global-isp.org/wp-content/uploads/WP-132.pdf   Stay current with Andrés via Twitter: https://twitter.com/andresintheory   Stay current with the Money On The Left collective: https://twitter.com/moneyontheleft   The Debt Collective: https://twitter.com/StrikeDebt   Interview with Braxton Brewington of The Debt Collective on student loan cancellation: https://fair.org/home/braxton-brewington-on-student-loan-debt-andy-marra-on-trans-youth-rights/     Warren Mosler / Robert Murphy debate: https://youtu.be/cUTLCDBONok   An overview of chartalism: https://en.wikipedia.org/wiki/Chartalism     For more on banking operations:   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   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     More on inflation: 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 A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757 More on the Levy Economics Institute of Bard College 2022 Summer Seminar: https://www.levyinstitute.org/news/summer-seminar-2022   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/64711994   Show notes: https://www.patreon.com/posts/64711495

Patricia and Christian talk about what's likely to be missing from Chancellor Rishi Sunak's spring statement.   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: Listen to our first three episodes: https://www.patreon.com/posts/41742417   All our episodes in chronological order: https://www.patreon.com/posts/43111643   Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   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   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     More on inflation: 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 A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757 More on the Levy Economics Institute of Bard College 2022 Summer Seminar: https://www.levyinstitute.org/news/summer-seminar-2022   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/64142931   Show notes: https://www.patreon.com/posts/64142978

Patricia and Christian talk to MMT economists L. Randall Wray and Yeva Nersisyan about their most recent paper, “What's Causing Accelerating Inflation? Pandemic Or Policy Response?”   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: 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 L. Randall Wray: https://www.patreon.com/posts/44467066   “What's Causing Accelerating Inflation: Pandemic or Policy Response?” by Yeva Nersisyan & L. Randall Wray: https://www.levyinstitute.org/publications/whats-causing-accelerating-inflation-pandemic-or-policy-response   “Still Flying Blind After All These Years: The Federal Reserve's Continuing Experiments With Unobservables” by Dimitri B. Papadimitriou & L. Randall Wray: https://www.levyinstitute.org/pubs/ppb_156.pdf   “How to Pay for the Green New Deal” by Yeva Nersisyan & L. Randall Wray: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=339898     Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318     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     More on inflation:   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   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   More on the Levy Economics Institute of Bard College 2022 Summer Seminar: https://www.levyinstitute.org/news/summer-seminar-2022   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/63776575   Show notes: https://www.patreon.com/posts/63776558

**There's a transcript accompanying every episode of Macro N Cheese. You'll also find links to other resources on the Extras page. Go to https://realprogressives.org/macro-n-cheese-podcast/ (realprogressives.org.org/macro-n-cheese-podcast/ )** Alexander Valchyshen brings special knowledge of both economics and conditions in Ukraine. He's a PhD student under Scott Fullwiler and has more than twenty years of experience in Ukraine's banking and financial markets, so he has a point of view that the US public rarely hears. Given the current geopolitical conflict, Steve wanted to fill the gaps in his knowledge of Alexander's homeland. It's no surprise that social media and the major news organizations are unreliable. “As I said, it's a pretty difficult time. But at the same moment, this is a very crucial moment not only for Ukraine itself, for its existence, because we have to understand Ukraine as a sovereign country in every possible sense of that word, not only in the political terms, but also in the economic terms.” Some of what Alexander describes is very familiar, including the discrepancy between what Ukrainian policy makers understand and their public stance as fiscal conservatives. Alexander goes into some detail about the handling of budget deficits by turning to foreign markets. “I tend to differentiate between currency and money units of account ... What makes Ukraine vulnerable and weak is that historically, as many other countries, there has been instability, there has been a period of hyperinflation and people developed this habit to find a rescue in foreign money. And there is widespread usage of foreign money of account in this economy.” The episode looks at both the history and current conditions of Russia and Ukraine. At a time when most of the news from that part of the world is weighted with emotion and skewed by complex, often obscured interests, we're bringing you a perspective you may not be accustomed to. Alexander Valchyshen is a Research Fellow at the Global Institute for Sustainable Prosperity and an interdisciplinary Ph.D. student in the Economics department of UMKC, under the supervision of Dr. Scott Fullwiler. He holds an M.S. in Economic Theory and Policy (2019) from the Levy Economics Institute at Bard College. He completed his Master's thesis under the supervision of Dr. L. Randall Wray and Dr. Jan Kregel. He has more than 20 years of experience in Ukraine's banking and financial markets, including with some of Ukraine's major banks and financial firms. During 2016-17, Alexander supervised a team of Ukrainian translators, who translated two books by Dr. Wray―Modern Money Theory and Why Minsky Matters―into Ukrainian. In the Fall of 2018, he held the position of visiting instructor of Finance at Bard College, and taught its Financial Management course to undergraduate students, supervised by Dr. Pavlina Tcherneva. @AlexValchyshen on Twitter

Patricia and Christian talk to author, public finance consultant, and Professor of Law Robert Hockett about his proposal to tame speculative bubbles and put public capital back to public use.   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: 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 Robert Hockett: https://www.patreon.com/posts/63228139   Building Banks Better: A Plan to Put Public Capital Back to Public Use by Robert Hockett: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4023614   Fine-Tuning Monetary Easing, Part 2: The Fed's New Chicago Trading Capacity by Robert Hockett: https://www.forbes.com/sites/rhockett/2022/01/31/fine-tuning-monetary-easing-part-2-the-feds-new-chicago-trading-capacity/?sh=33ff44a3318d   Money from Nothing: Or, Why We Should Stop Worrying About Debt and Learn to Love the Federal Reserve by Robert Hockett and Aaron James: https://www.amazon.co.uk/Money-Nothing-Worrying-Federal-Reserve/dp/B08FLQK2YF/ref=sr_1_1?crid=KT51L5RY6QZ6&keywords=robert+hockett&qid=1646152833&s=books&sprefix=Robert+Hockett%2Cstripbooks%2C70&sr=1-1   Financing the Green New Deal: A Plan of Action and Renewal by Robert Hockett: https://www.amazon.co.uk/Financing-Green-New-Deal-Renewal/dp/3030484491/ref=sr_1_3?crid=KT51L5RY6QZ6&keywords=robert+hockett&qid=1646152833&s=books&sprefix=Robert+Hockett%2Cstripbooks%2C70&sr=1-3   More on inflation:   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 A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   Levy Economics Institute of Bard College 2022 Summer Seminar: https://www.levyinstitute.org/news/summer-seminar-2022   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/63227310

Patricia and Christian talk to economist and author Dr Dirk Ehnts, about his latest book, MMT Essentials, the hierarchy of money, and where commercial banks fit into it.   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   Springer Essentials: MMT by Dirk Ehnts (available in German at time of posting): https://link.springer.com/book/10.1007/978-3-658-36488-5   Levy Economics Institute of Bard College 2022 Summer Seminar: https://www.levyinstitute.org/news/summer-seminar-2022   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 Dirk Ehnts: https://www.patreon.com/posts/44467243   Dirk Ehnts' website: https://www.dirk-ehnts.de/ Dirk Ehnts on Twitter: https://twitter.com/DEhnts 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  An Accounting Model of the UK Exchequer by Andrew Berkeley, Richard Tye & Neil Wilson: https://gimms.org.uk/wp-content/uploads/2021/02/An-Accounting-Model-of-the-UK-Exchequer-2nd-edition.pdf   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 A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   Transcript for opening monologue: https://www.patreon.com/posts/62603373   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/62603318

Finance has an oversized presence in contemporary mature nations. It has grown enormously in terms of size, relative to the rest of the economy. And, financialization has crept into all aspects of our lives. Housing, education, and healthcare are all targets for investors. More recently, new investment vehicles are being marketed that would even financialize natural ecosystems. We speak with Randall Wray, senior scholar at the Levy Economics Institute and professor of economics at Bard College.

Nesse episódio, a professora Ana Frazão conversa com Luiza Nassif, Professora do Levy Economics Institute sobre Economia feminista e Economia do cuidado. Apresentação: Ana Frazão Produção e Edição: José Jance Marques

Economics is a one semester thing in the education system. But it's a critical topic that influences all sorts of things in our society. So many people, however, don't understand HOW the system actually works. Adam is joined by L. Randall Wray, professor of Economics at Bard College, Senior Scholar at the Levy Economics Institute, and one of the founders of MMT, about how our government works and how we can go about teaching our children. We're also graced with some stories by Isaac and Elliot (Weird Isaac and Super Elliot), as well as Ezekiel telling the story of Ezekiel and his dog. Website: www.LevyInstitute.org Macroeconomics www.HomeschooledByDad.com

What can be done to promote global prosperity? Press play for the answer, and to learn: What factors contribute to inflation in the U.S. What three structural weaknesses exist in developing countries that struggle with weak currencies What economic problems are worsened by tourists Why the U.S. may need to restart the basis of the U.S. economy in coming years Associate professor of economics at Denison University and President of the Global Institute for Sustainable Prosperity, Fadhel Kaboub, has held research affiliations with Levy Economics Institute and the Harvard Kennedy School. As an expert on modern monetary theory (MMT), which includes the Green New Deal and job guarantee, Kaboub's work is centered around the use of public policy to enhance monetary and economic sovereignty in the Global South. MMT is an approach that challenges the mainstream policy framework, which generally states that the government can only afford to pay for things that we can raise tax revenues from, or borrow from financial markets. Beyond that, the mainstream policy framework posits that anything the government pays for would be inflationary, eventually bankrupting the country. This is where MMT comes in and says…Not necessarily...We have plenty of spending capacity, we just aren't tapping into it. Kaboub explains that different countries have different degrees of untapped spending capacity, such as the Green New Deal, inequality in healthcare, and climate change mitigation, all of which he says can be addressed without hitting inflation constraints. He discusses many of the common strategies suggested for strengthening economies in developing countries, and why and how these strategies fail. Long-term strategic views are critical for maintaining a sovereign monetary system and geopolitical influence, says Kaboub. He dives into the details of all this and so much more. For more information, visit http://www.global-isp.org/ and https://denison.edu/people/fadhel-kaboub.

SPECIAL EPISODE: Recorded in New York, Richard Marrano, MSc in Finance ’18, interviews Professor Randall Wray, MMT Economist, Senior Scholar at the Levy Economics Institute and Professor of Economics at Bard College. Professor Wray explains the complexities behind Modern Monetary Theory (MMT), inflation and how a federal job guarantee programme could strengthen the economy.

Por que existem poucas mulheres economistas? A pesquisadora Luiza Nassif, do Levy Economics Institute of Bard College, é a convidada dessa semana para responder a esta pergunta. Luiza mostra os obstáculos para mulheres na economia e discute como eles podem influenciar a própria formulação de políticas públicas - além de apresentar temas da área conhecida como Economia Feminista. / Para saber mais: https://www.idp.edu.br/podcasts/economisto/

Paul Jay, the former CEO of The Real News Network, now is founder and publisher of theAnalysis.news and President of Counterspin Films. On November 2, 2020 he invited the renowned economist Michael Hudson on theAnalysis.news. Michael Hudson is professor of economics at the University of Missouri, Kansas City, and a researcher at the Levy Economics Institute at Bard College. He’s also a former Wall Street analyst. Jay and Hudson began by discussing whether Trump policies have brought jobs and industries back home - as Trump still claims. They also discuss the huge and mounting Covid related debt of ordinary people and the need for writing it down. Michael Hudson elaborates on the difference in the amounts of money in the Covid stimulus plan - with about $8 trillion going to the one percent and $2 trillion to the rest of us. The full 49 minute conversation is free on the website of theAnalysis.news - and there is also a transcript.

Paul Jay, the former CEO of The Real News Network, now is founder and publisher of theAnalysis.news and President of Counterspin Films. On November 2, 2020 he invited the renowned economist Michael Hudson on theAnalysis.news. Michael Hudson is professor of economics at the University of Missouri, Kansas City, and a researcher at the Levy Economics Institute at Bard College. He’s also a former Wall Street analyst. Jay and Hudson began by discussing whether Trump policies have brought jobs and industries back home - as Trump still claims. They also discuss the huge and mounting Covid related debt of ordinary people and the need for writing it down. Michael Hudson elaborates on the difference in the amounts of money in the Covid stimulus plan - with about $8 trillion going to the one percent and $2 trillion to the rest of us. The full 49 minute conversation is free on the website of theAnalysis.news - and there is also a transcript.

Today we examine how much capitalism and how much socialism is needed to save America's middle class. On Today's Show:Pavlina R. Tcherneva, associate professor at Bard College and research scholar at the Levy Economics Institute and the author of The Case for a Job Guarantee (Polity, 2020) and Oren Cass,  executive director of American Compass, a domestic policy advisor for the Romney presidential campaign and the author of The Once and Future Worker: A Vision for the Renewal of Work in America (Encounter Books, 2018), talk about where on the spectrum from capitalist to socialist each candidate stands, from their own very different points of view.

During the pandemic, unemployment is top of mind. But it won't go away when we get control over the virus. Our guest wrote about a "vaccine" for unemployment: a federal jobs guarentee. On Today's Show:Pavlina R. Tcherneva, associate professor at Bard College and research scholar at the Levy Economics Institute and the author of The Case for a Job Guarantee, talks about the Modern Monetary Theory and why it allows for full employment at a living wage -- even now.

This week Adam is joined by the Next System Project's Research Associate Cecilia Gingerich to interview Pavlina Tcherneva about the transformative potential of a federal job guarantee. Pavlina is an Associate Professor and Chair of the Department of Economics at the Levy Economics Institute, Bard College. Subscribe to the Next System Podcast via iTunes, Soundcloud, Google Play, Stitcher Radio, or RSS.