Modern Monetary Theory with Stephanie Kelton

“The people who were so sure that deficits drive interest rates up or that QE is inflationary, those people who asserted those things with real fervour, I think are demonstrably wrong.” — Stephanie Kelton Location: Zoom Date: Wednesday 29th July Company: Stony Brook University Role: Professor of Economics and Public Policy With the abandonment of the gold standard in the early 20th century, there has been nothing to limit the amount of money a central bank can print, leading to a rapid rise in national debts. In the US debt alone, the national debt stands at $26.5 trillion, and the growth is accelerating. While conventional economic theory would suggest this ever-growing debt is dangerous as it can lead to uncontrollable rises in inflation and a devaluing of the dollar, there is a newer school of thought; Modern Monetary Theory which makes a different argument. MMT suggests that governments should not be concerned with increasing debt, arguing the only risk is inflation, which is controllable. MMT is the antithesis to the Austrian school of thought that aligns with Bitcoin’s monetary policy of fixed supply and deflationary issuance. In this interview, I talk to Stephanie Kelton, professor of economics and public policy at Stony Brook University. We discuss the benefits of modern monetary theory, why increased spending may not lead to inflation, national debt and money printing. This episode’s sponsors: Kraken - The best place to buy, sell & trade Bitcoin BlockFi - The future of Bitcoin financial services Sportsbet.io - Online sportsbook & casino that accepts Bitcoin Casa - The leading provider of Bitcoin multisig key security. ----- WBD246 Show Notes: https://www.whatbitcoindid.com/podcast/modern-monetary-theory-with-stephanie-kelton ----- If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following: Become a Patron and get access to shows early or help contribute Make a tip: Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S QR Codes: Bitcoin | Ethereum | Litecoin | Monero | ZCash | Ripplecoin If you do send a tip then please email me so that I can say thank you Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed Leave a review on iTunes Share the show and episodes with your friends and family Subscribe to the newsletter on my website Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.