Debunking deficit myths (with Stephanie Kelton)
Pitchfork Economics with Nick Hanauer
00:00
Modern Monetary Theory
The country currently went into the crisis with 20 trillion in deficit already and virtually no inflation. It's funny because MMT has been from the very beginning an attempt to provide an accurate description of how the monetary system works, he says. So it is a narrative description. The project is about describing to us how our monetary system and government finance works,. He adds that understanding these dynamics highlights not whether we're going to do these things, but what we actually spend the money on.
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