Is There a Modern, a Monetary Theory?

3min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

i've been reading about this a modern, a monetary theory, and you know, how this is going to allow us to have something like a u b i or inno. Some of my conservative friends are going, oh, this is pure magic. You know, as long as the economy's growing pretty robustly, maybe four % a year, then you could do something like that. Eli: I wouldn't put a billionth of a bit coin on modern moneywot an rate. Buts just all story. No, just, well, it's not modern. It's just, it's like the old fashioned. It's 19 sixties with a little dusting and

In this conversation, based on the book The Spirit of Green: The Economics of Collisions and Contagions in a Crowded World, Nobel Prize-winning pioneer in environmental economics Dr. Nordhaus explains how and why “green thinking” could cure many of the world’s most serious problems — from global warming to pandemics. Solving the world’s biggest problems requires, more than anything else, coming up with new ways to manage the powerful interactions that surround us. For carbon emissions and other environmental damage, this means ensuring that those responsible pay their full costs rather than continuing to pass them along to others, including future generations. Nordhaus describes a new way of green thinking that would help us overcome our biggest challenges without sacrificing economic prosperity, in large part by accounting for the spillover costs of economic collisions. In a discussion that ranges from the history of the environmental movement to the Green New Deal, Nordhaus explains how rethinking economic efficiency, sustainability, politics, profits, taxes, individual ethics, corporate social responsibility, finance, and more would improve the effectiveness and equity of our society.