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The Deficit Myth with Stephanie Kelton — what to ask when governments can't afford to fix things.
Mar 27, 2024
American economist Stephanie Kelton challenges economic orthodoxy in her book The Deficit Myth, discussing deficits as investments in education and infrastructure. The conversation explores Modern Monetary Theory, inflation risks, historical precedents, and government tools for addressing climate change.
53:57
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Quick takeaways
- Government budgets differ from personal finances; government can never run out of money.
- COVID-19 response exemplifies government's ability to fund initiatives without traditional financial constraints.
Deep dives
Challenging the Myth of National Budgets
The podcast challenges the conventional wisdom surrounding national budgets, deficit, and debt. It highlights the misconception of treating government budgets like personal finances, emphasizing that the government, as a currency issuer, can never run out of money. It discusses the importance of focusing on inflation rather than deficits and elucidates the impact of historical precedents on economic policies.
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AI-powered
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode