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We Must Spend Our Way to Recovery, Says Economist — Angelika Albaladejo

Summary:
The recently passed .1 trillion stimulus proves that Congress has always had the power to fund big spending packages, without worrying about how to offset the costs. That is according to Modern Monetary Theory, an economic school of thought that’s been gaining prominence in recent years, including among rising progressive political stars like Congresswoman Alexandria Ocasio-Cortez. Stephanie Kelton Stephanie Kelton, Modern Monetary Theory’s most prominent advocate, spoke to Capital & Main about the federal government’s response to COVID-19 and the oncoming economic recession. Kelton is a professor of economics and public policy at New York’s Stony Brook University. She has served as a chief economist for Democrats on the U.S. Senate Budget Committee and as an advisor to Senator Bernie

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The recently passed $2.1 trillion stimulus proves that Congress has always had the power to fund big spending packages, without worrying about how to offset the costs. That is according to Modern Monetary Theory, an economic school of thought that’s been gaining prominence in recent years, including among rising progressive political stars like Congresswoman Alexandria Ocasio-Cortez.


We Must Spend Our Way to Recovery, Says Economist — Angelika Albaladejo

Stephanie Kelton

Stephanie Kelton, Modern Monetary Theory’s most prominent advocate, spoke to Capital & Main about the federal government’s response to COVID-19 and the oncoming economic recession. Kelton is a professor of economics and public policy at New York’s Stony Brook University. She has served as a chief economist for Democrats on the U.S. Senate Budget Committee and as an advisor to Senator Bernie Sanders’ 2016 and 2020 presidential campaigns. Her new book, The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy, will be published in June.
This interview has been edited for length and clarity.... 
An economist with star power.

Capital and Main
We Must Spend Our Way to Recovery, Says Economist
Angelika Albaladejo
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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