Is government debt real? Is anything real? Professor Stephanie Kelton gives Nick and Goldy a master class on the hottest idea in economics right now: Modern Monetary Theory. nStephanie Kelton is a professor of public policy and economics at Stony Brook University and a senior economic adviser to Bernie Sanders’s 2016 and 2020 presidential campaigns. She was the chief economist on the U.S. Senate Budget Committee in 2015 and in 2016, POLITICO named her one of the 50 people most influencing the public debate in America. Her forthcoming book, ‘The Deficit Myth: Modern Monetary Theory and the Birth of a New Economy’ will be published by Public Affairs in 2020. nTwitter: @StephanieKeltonnFurther reading: nhttps://www.vox.com/future-perfect/2019/4/16/18251646/modern-monetary-theory-new-moment-explainednhttps://www.nytimes.com/2017/10/05/opinion/deficit-tax-cuts-trump.html nhttps://www.cnbc.com/2019/03/01/bernie-sanders-economic-advisor-stephanie-kelton-on-mmt-and-2020-race.htmlnhttps://www.thenation.com/article/the-rock-star-appeal-of-modern-monetary-theory/

Modern Monetary Theory is an attempt to accurately describe how government debt and complex financial systems actually work. MMT can help us responsibly use our resources, and no one is more knowledgeable on the subject than our returning guest this week, Professor Stephanie Kelton. As Congressional debates over the need for a new stimulus package heat up, Kelton explains the myths surrounding MMT and what a new understanding of the budget could do for our economy.

Stephanie Kelton is a Professor of Economics and Public Policy at Stony Brook University. She is the leading expert on Modern Monetary Theory. Her new book, The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy, shows how to break free of flawed deficit thinking.