This podcast features an interview with Stephanie Kelton, a professor of economics and public policy, discussing her book "The Deficit Myth" and modern monetary theory (MMT). The conversation covers Kelton's background, her time as chief economist for the US Senate Budget Committee, and a detailed exploration of MMT principles, including its views on deficits, taxes, and the role of fiscal and monetary policy. Specific examples like Japan's high debt-to-GDP ratio and the inflationary impact of supply chain disruptions during the COVID-19 pandemic are used to illustrate MMT concepts. Listeners gain insights into alternative economic perspectives and the ongoing debate surrounding fiscal policy, particularly regarding the effectiveness of deficit spending and the limitations of monetary policy.
