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Erik Townsend and Patrick Ceresna welcome Stephanie Kelton to MacroVoices. Erik and Stephanie discuss:

  • Why using taxes to pay for government spending is a myth
  • If the government can print money, why are taxes still necessary?
  • What measures does MMT use to overcome inflation risk?
  • Debunking the myth that the future generation will have to pay for the current national debt
  • Risk of dilution in value of dollars due to government money printing
  • Constraints of MMT

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Stephanie is a leading authority on Modern Monetary Theory, a new approach to economics that is taking the world by storm. She is considered one of the most important voices influencing the policy debate today. Her book, The Deficit Myth: Modern Monetary Theory and Creating an Economy for the People, shows how to break free of the flawed thinking that has hamstrung policymakers around the world.

In addition to her many academic publications, she has been a contributor at Bloomberg Opinion and has written for the New York Times, The Los Angeles Times, U.S. News & World Reports, CNN, and others.

Professor Kelton has worked in both academia and politics. She served as chief economist on the U.S. Senate Budget Committee (Democratic staff) in 2015 and as a senior economic adviser to Bernie Sanders’ 2016 and 2020 presidential campaigns. She currently works as a Professor of Economics and Public Policy at Stony Brook University, and she holds Visiting Professorships at The New School for Social Research, the University of Ljubljana, and the University of Adelaide. Prospect Magazine named her one of the 50 most influential thinkers in the world. She was previously Chair of the Department of Economics at the University of Missouri, Kansas City.

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