Tag Archives: Stephanie Kelton

Stephanie Kelton is a leading American economist and a professor of public policy and Economics at Stony Brook University. Kelton was chief economist on the US Senate Budget Committee and economic adviser to the Bernie Sanders 2016 presidential campaign. She's most known for being a pioneer of Modern Monetary Theory (MMT). In this episode, Professor Kelton debunks budget deficit and government spending myths, and explains why understanding how our monetary system works is crucial to making...

Nice précis of MMT.Mount Desert Islander — Letters to the EditorGovernment debt and spending John Buell

Useful backgrounder, although short on MMT. Mentions Stephanie Kelton but that is about it. It does outline the history though, which is helpful in understanding that a job guarantee is not a new idea.The Daily BeastHow Guaranteeing Jobs Became the Hot New Policy Priority for 2020 Dems Gideon Resnick ht Yves Smith at Naked Capitalism

Imagine an end to Washington spending wars that leave filibustering senators blue in the face. Economist Stephanie Kelton does. She sees a world where the federal government can build a big, beautiful social safety net, strengthen the military and, for good measure, cut taxes on the rich. The government, in her eyes, can spend as much as it wants on anything without the bill coming due. Welcome to Modern Monetary Theory — a bizarro world that might not be as far-fetched as it sounds. The...

There are some people who like to suggest that modern monetary theory (MMT) suggests that a government can create money without limit. They go on to say that this has always resulted in economic disaster. The words Zimbabwe and Weimar Republic are never far from their lips. The reality is, however, that MMT does not say that governments can create any amount of money they like without limit. What it does say are two things. The first is that as a matter of fact all government spending is...

Longish but worth a read. Covers a lot of ground.The InterceptA Guaranteed Jobs-For-All Program Is Gaining Traction Among 2020 Democratic Hopefuls Kate Aronoff

Stephanie is now a contributor to Bloomberg View. Stephanie Kelton is a professor of public policy and economics at Stony Brook University. She was the Democrats' chief economist on the staff of the U.S. Senate Budget Committee and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders. This is her maiden post. Bloomberg View — Opinion Use Fiscal Policy, Not the Fed, to Fight the Next Slump Stephanie Kelton | Contributor

Podcast.FT Alphaville (free registration may be required)Stephanie Kelton explains how the government budget affects the economy and the mechanics of student debt forgiveness Matthew C. Klein

A new report from Bard College’s Levy Economics Institute concludes that this bold idea – cancelling all outstanding student debt – would help the entire economy and create more than a million jobs. To those who say we can’t afford to cancel this debt, the report poses a new and different question: Can we afford not to? Cancel and Grow Using widely-accepted economic tools, the report’s authors – Scott Fullwiler, Stephanie Kelton, Catherine Ruetschlin, and Marshall Steinbaum – found that...

The recently passed Republican tax cut package will cost about $1.4 trillion over a decade, according to independent figures. It’s a very expensive policy that currently is not offset by an increase in government revenue, or by spending cuts.Another measure would cost about the same amount and it too would be hard to justify as a deficit-busting policy. But it might have greater economic benefits, say economists. That policy would be canceling all student debt. The contention comes from a...