Modern Monetary Theory & Economic Education | With Stephanie Kelton – Part 1

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Modern Monetary Theory & Economic Education | With Stephanie Kelton – Part 1


In this interview we talk to Stephanie Kelton, Professor of Public Policy & Economics, author and economic advisor to Bernie Sanders’ presidential campaign in 2016, about Modern Monetary Theory (MMT) and the basic economic concepts related to it.


VIDEO: Modern Monetary Theory & Economic Education PART 1


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ABOUT STEPHANIE KELTON

Stephanie KeltonStephanie Kelton, Ph.D. is Professor of Public Policy & Economics at the Stony Brook University. She served as Chief Economist on the U.S. Senate Budget Committee (democratic staff) in 2015 and then became an Economic Advisor to the Bernie 2016 presidential campaign. She was the Founder and Editor-in-Chief of the top-ranked blog New Economic Perspectives and a member of the TopWonks network of the nation’s best thinkers. In 2016, POLITICO recognized her as one of the 50 people across the country who is most influencing the political debate.

Her book, The State, The Market and The Euro (2001) predicted the debt crisis in the Eurozone, and her subsequent work correctly predicted that: (1) Quantitative Easing (QE) wouldn’t lead to high inflation; (2) government deficits wouldn’t cause a spike in U.S. interest rates; (3) the S&P downgrade wouldn’t cause investors to flee Treasuries; (4) the U.S. would not experience a European-style debt crisis.

She is a regular commentator on national radio and broadcast television.


Citation-List of Videos & Graphics embeded in the YouTube & Facebook Video: „Modern Monetary Theory & Economic Education | With Stephanie Kelton – Part 1“
  • www.youtube.com (19.10.2016) – „(HIGHLIGHTS) Stephanie Kelton – The Economic Movement of Bernie Sanders“ – https://www.youtube.com/watch?v=VK63d-pRC84 – Author: Room for Discussion
  • www.youtube.com (09.11.2017) – “Banking Supervision at the European Central Bank“ – https://www.youtube.com/watch?v=ChiucNIhkdw – Author: European Central Bank
  • commons.wikimedia.org (26.12.2017) – “File:Eurozone Internal.svg“ – https://commons.wikimedia.org/wiki/File:Eurozone_Internal.svg – Author: JLogan
  • www.youtube.com (21.07.2016) – „US CURRENCY PRINTING” – https://www.youtube.com/watch?v=-2YWKARGOSc – Author: CNN
  • www.youtube.com (05.07.2017) – “Printing of the New €50 Banknote“ – https://www.youtube.com/watch?v=0eL9BuKP55I – Author: European Central Bank
  • www.youtube.com (04.04.2017) – “Journey of the new €50“ – https://www.youtube.com/watch?v=pESXskY-hdg – Author: European Central Bank

 
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  1. Back to basics: MMT asserts that (G-T)+(X-M)+(I-S)=0. This follows from asserting that C+S+T = GDP = C+I+G+(X-M). What is “C”? Maybe not the same on the two sides of the equation? On the left side of the GDP equation, “C” is the consumption of currency. On the right side, “C” is the consumption of assets. Two different variables. So the algebra doesn’t work. Please advise.

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