Deficit Owls | MMT Is How It Already Works @deficitowls5296 | Uploaded November 2016 | Updated October 2024, 13 minutes ago.
Professor Stephanie Kelton (UMKC and economic adviser to Bernie Sanders and the Senate Budget Committee) explains that Modern Money Theory is a description of how things already work, today. MMT research is based on deep investigations into the institutional details as they exist today. Claims that MMT makes, such as "the federal government always spends by issuing new money, and taxes destroy the money," aren't ignoring the details of what goes on. It is actually the result of careful studying of those details, and reducing the process to the essential form of it: if you peel back the layers of institutional complexity, what is ACTUALLY happening, even TODAY, is that the federal government always spends by issuing new money.
Then, based on this knowledge, MMT recommends a few proposals of what to do with this power, such as a Job Guarantee (where the government would offer a public service job to anybody who's ready, willing, and able to work, for a fixed minimum wage).
Watch the whole interview here: youtube.com/watch?v=z1F4RuX2SUc
Follow Deficit Owls on Facebook and Twitter:
facebook.com/DeficitOwls
twitter.com/DeficitOwls
Professor Stephanie Kelton (UMKC and economic adviser to Bernie Sanders and the Senate Budget Committee) explains that Modern Money Theory is a description of how things already work, today. MMT research is based on deep investigations into the institutional details as they exist today. Claims that MMT makes, such as "the federal government always spends by issuing new money, and taxes destroy the money," aren't ignoring the details of what goes on. It is actually the result of careful studying of those details, and reducing the process to the essential form of it: if you peel back the layers of institutional complexity, what is ACTUALLY happening, even TODAY, is that the federal government always spends by issuing new money.
Then, based on this knowledge, MMT recommends a few proposals of what to do with this power, such as a Job Guarantee (where the government would offer a public service job to anybody who's ready, willing, and able to work, for a fixed minimum wage).
Watch the whole interview here: youtube.com/watch?v=z1F4RuX2SUc
Follow Deficit Owls on Facebook and Twitter:
facebook.com/DeficitOwls
twitter.com/DeficitOwls
