The Strength of #MMT is that Stephanie, Randall Wray and Warren Mosler et. al are so competent at explaining it to Laymen.

Wow, no downsides just back slapping goodness. How convenient.

Thank God i didn't send my child to Stony Brook University 😊

MMT is good for stocks market…and that is it.

Only concern these days is labelling anything that you can observe in action for yourself a theory, is a complete misnomer for aberrations in policies that are not misunderstood, not when it is a political process of misdirection of the public. Many people following the MMT Provisioning concept have come to object to the idea of theory being necessary for knowledge to be established in Academia, as merely a matter of style. The Measurement Problem, and Uncertainty Principle Observation approach to Actuality is pure-math empirical shaping laws in which quality becomes the start point of declaring a POV developed positioning system of innovation and design in an amorphous environment of ideas. When the Mathemagical quantization concepts of available or allowable reference-framing containment positioning of resource management is either a severely restricted Nomenclature or message of mass distraction from the obvious inequitable circumstances, "No one is right if everyone is wrong". Ie don't confuse value theory and promises with deception in practice of actual goods and services resource management. All the rest is Commentary.

AOC endorsing MMT is not a confidence booster. Why climate agenda, lets just using MMT build more entertainment, food center and music concerts- at least we can all feel good right away instead of championing for an elusive climate catastrophe decades into the future

Thank you for having professor kelton on great interview

So the trillions of dollars committed during/after Covid had zero bearing on our current inflation? Those ‘other nations’ that didn’t commit the same % had higher inflation? Did they control the reserve currency. Did the wage earners not suffer as their wage growth is not backstopped by personal money printers? MMT is a very short lived top down economic model.

Promo_SM

Dismal science!

Such an important, dignified, inspiring, thoughtful conversation.

Amongst the things that MMT economists deliberatley avoid is the fact that money creation by the Central (Reserve) bank for government to spend involves as a necessity the creation of an equivalent amount of debt. That debt is a burden for private sector to repay when the treasury securities which were sold to the central bank to secure the new money. It all has to be paid back by those in the private sector when those treasury securities mature. Of course they can't admit that because it shows their MMT is scam of huge proportions so they leave it out of and discussion and avoid any answers if it arises.

That fact that anyone, much less educated professionals, are treading this woman's ideas with a shred of credibility is concerning.

This is just crazy thinking. Truly unreal people believe this shit.

How does she get away with this nonsense? MMT would require Treasury to create money. It doesn't CBS make reserves, comm banks create money when they lend. MMT doesnt describe the monetary system in any way. So disappointed in such a softball interview.

this is total nonsense.

If you're watching this and it makes no sense, you're ready to look at and eventually buy some Bitcoin. A logical counter to this nonsense.

Kelton pouring out absolutely false information again when she says the government is the issuer of the currency - Totally wrong and complete lie. The government does Not issue the currency but either borrows if from the Federal reserve ( theequivalent the central or reserve bank in other countries) OR taxes the private sector to get it. This situation occurs in almost all countries under the fiat money systems which are world wide. If you are astute enough you will have notice she provides no official explanations of this false claim. The correct explanation fro the official sites shows she is wrong. Take for instance this explanation from the Canadian government's official parliamentary library which outlines how fiat money comes into existence by the central bank and private banks. It says "In practical terms, when the Bank of Canada purchases government securities at auction, it means that the Bank records the value of the securities, each of which has a unique International Securities Identification Number, as a new asset on its balance sheet. It simultaneously records the proceeds from the sale of the securities as a deposit in the Government of Canada’s account at the Bank - a liability on the Bank’s balance sheet (see Appendix, Table 1). Since the Bank of Canada is a Crown corporation - wholly owned by the federal government, yet independent of it in the conduct of its monetary policy - the Bank’s purchase of a newly issued security from the federal government can essentially be considered an internal transaction. It records new and equal amounts on the asset and liability sides of its balance sheet, creating money through digital accounting entries.7 The federal government can then spend that newly created money in the Canadian economy as it sees fit, subject to Parliament’s approval." and then explains "Private commercial banks also create money when they purchase newly issued government securities as primary dealers at auctions. They do so by making digital accounting entries on their own balance sheets: the asset side is augmented to reflect the purchase of new securities, and the liability side is augmented to reflect a new deposit in the federal government’s account with the bank. However, it is important to note that the majority of money in the Canadian economy is created within the private banking system every time banks extend new loans like mortgages, consumer loans and business loans. Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money (see Appendix, Table 2).". It adds:- "One key similarity between money creation in the private banking system and money creation by the Bank of Canada is that both are realized by simultaneously increasing the asset and liability sides of a balance sheet.". Also it explains: As the Bank of Canada explains, its purchases of Government of Canada securities are Not a way of financing the government’s spending and debt at no cost; the federal government has to Repay the securities when they become due. " You can see it on this site :- lop.parl.ca/sites/PublicWebsite/default/en_CA/ResearchPublications/201551E When private banks create money much of it goes into paying taxes that are collected from wages or from excise or from sales taxes. It has not been issued into the economy by the Federal reaserve or spent by government. Kleton's MMT economics is blind or deliberately ignores this fact to put across false story.

Stoned and Broke University

In response to a question from the interviewer about inflation several years ago Kleton admits "we did get high inflation". It shows the failure of her MMT because the 9% inflation actually occurred . That inflation proves the fallacy of her MMT in which she says inflation will only occur when there is deficit spending and a lack of idle capacity in the economy but in that time there was no idle capacity but that 9% inflation.