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Masters in Business

US Fiscal Policy and the 'Deficit Myth' with Stephanie Kelton

Mar 13, 2025
Stephanie Kelton, a professor of economics and public policy at Stony Brook University, dives into the world of Modern Monetary Theory and its implications for U.S. fiscal policy. She critiques traditional views on budget deficits and highlights the case study of Japan's economic stability despite high deficits. Kelton discusses her unexpected journey from aspiring dentist to influential economist, and the importance of bipartisan collaboration in budget hearings. The conversation also touches on challenges of inflation and the bold proposal of a government-funded job guarantee.
01:29:30

Podcast summary created with Snipd AI

Quick takeaways

  • Modern Monetary Theory challenges traditional views on deficits, asserting that government spending can foster economic growth and private sector surpluses.
  • The relationship between government spending and inflation is nuanced, where thoughtful fiscal policies can prevent inflationary pressures while enabling public investments.

Deep dives

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