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The Daily Show: Ears Edition
Guest Spotlight: Why Govt. Deficit Is a Good Thing | Are Algorithms Controlling Our Taste?
Apr 28, 2024
Stephanie Kelton and Kyle Chayka discuss the benefits of government deficits and the influence of algorithms on taste and culture. They explore Modern Money Theory and how algorithms on social media platforms homogenize tastes and impact creativity.
26:54
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Quick takeaways
- Deficits can be beneficial for funding essential programs without constraints on government spending.
- Modern Monetary Theory emphasizes the difference between deficits and taxation, highlighting the sustainable nature of deficits without excessive demand.
Deep dives
Stephanie Kelton's Explanation of Modern Monetary Theory (MMT)
Modern Monetary Theory (MMT) challenges traditional economic views by emphasizing that governments with fiat currencies can spend without facing the same constraints as households. MMT argues that deficits can actually be beneficial financially as they represent the difference between government spending and taxation. Kelton highlights that deficits are not inherently bad and can be used to fund essential programs like supporting hungry children, addressing climate change, and improving infrastructure.
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Discover
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