Modern Monetary Theory
MODERN MONETARY THEORY
Modern Monetary Theory explained by Stephanie Kelton
Modern Monetary Theory (MMT) is gaining traction in American politics, energizing the progressive left and roiling deficit hawks. Stephanie Kelton, who advised Bernie Sanders’ 2016 presidential campaign, explains the basics.
First aired on CNBC.
Ed, Note:
Of course this analysis by Prof. Kelton, while cautioning about increased inflation being a primary budgetary concern with government spending programs, does not delve in to how MMT would affect asset prices which is where we have seen the greatest inflationary effects from the FED’s Quantitative Easing policies both in the 2008-2011 period and with the ongoing economic crises prompted by the COVID pandemic.
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