{"id":27392,"date":"2019-04-28T13:55:47","date_gmt":"2019-04-28T17:55:47","guid":{"rendered":"https:\/\/ssgreenberg.name\/PoliticsBlog\/?p=27392"},"modified":"2019-04-28T14:13:10","modified_gmt":"2019-04-28T18:13:10","slug":"what-is-modern-monetary-theory-with-stephanie-kelton","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2019\/04\/28\/what-is-modern-monetary-theory-with-stephanie-kelton\/","title":{"rendered":"What is Modern Monetary Theory? (with Stephanie Kelton)"},"content":{"rendered":"<p><em>Pitchfork Economics <\/em>has a podcast <a href=\"http:\/\/www.pitchforkeconomics.com\/episode\/what-is-modern-monetary-theory-with-stephanie-kelton\/\" rel=\"noopener noreferrer\" target=\"_blank\">What is Modern Monetary Theory? (with Stephanie Kelton)<\/a>,<\/p>\n<p>Nick Hanauer struggles to figure out what Prof. Kelton is explaining, but he has built-in resistance to her ideas that hinders him. He comes close to getting it. He just needs to keep thinking about it. When he has a doubt about what MMT means, he needs to talk about his doubts with an expert. Frequently, when newcomers, like I once was, have doubts, the old ideas are sneaking back in. Since I have learned about and believed Keynesian economics since the early 1960&#8217;s, I have had less trouble than some people in accepting MMT.<\/p>\n<p>Even some professional economists who had taught about Keynesian economics started suffering from brain rot introduced by Milton Friedman in the 1970s. I was too busy working, and disliked Friedman&#8217;s ideas, I guess I was immune to the brain rot.<\/p>\n<p><em>CNBC <\/em>has the video <a href=\"https:\/\/www.cnbc.com\/2019\/03\/01\/bernie-sanders-economic-advisor-stephanie-kelton-on-mmt-and-2020-race.html\" rel=\"noopener noreferrer\" target=\"_blank\">Bernie Sanders\u2019 2016 economic advisor Stephanie Kelton on Modern Monetary Theory and the 2020 race<\/a>.  This is even a better explanation of <em>Modern Money Theory <\/em>(MMT) than what <em>Pitchfork Economics <\/em>gleans in their podcast.<\/p>\n<div style=\"text-align:center\">\n    <iframe width=560 height=349 src=https:\/\/player.cnbc.com\/p\/gZWlPC\/cnbc_global?playertype=synd&#038;byGuid=7000067810 style=\"border:thick ridge #009900;\" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen ><\/iframe>\n<\/div>\n<pre>\r\n<\/pre>\n<p>In the discussion of cost-push inflation at the end of this, even I learned a nuance that I hadn&#8217;t quite understood.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pitchfork Economics has a podcast What is Modern Monetary Theory? (with Stephanie Kelton), Nick Hanauer struggles to figure out what Prof. Kelton is explaining, but he has built-in resistance to her ideas that hinders him. He comes close to getting it. He just needs to keep thinking about it. When he has a doubt about [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-27392","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/27392","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=27392"}],"version-history":[{"count":4,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/27392\/revisions"}],"predecessor-version":[{"id":27396,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/27392\/revisions\/27396"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=27392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=27392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=27392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}