A Lesson in Economics from Stephanie Kelton !

Stephanie makes it  easy to understand and doesn’t come across as blunt or evangelical. She doesn’t use meaningless terms such as ‘rebalancing the economy’ which you’ll read in the economics columns of various newspapers. You probably won’t see any economic discussion this useful on the TV!

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6 responses to “A Lesson in Economics from Stephanie Kelton !

  1. There’s an interesting comment from a member of the audience (out of view) with an Australian accent about 15 minutes in.

    It sounds very much like Steve Keen, and Stephanie refers to him as “Steve”

    Now that’s really interesting. I had the impression Steve Keen wasn’t that interested in Chartalism. I wonder if he’s about to throw his considerable credibility into the MMT pot ?

    Is Krugman still in denial ?

  2. Yes it is Steve Keen. The young guy doing the intros mentions him by name at about the 0.40 mark.
    I like Steve Keen. I’m not sure what points of disagreement he might have with the MMT group but it would be good if they could be resolved.

  3. Adherence to the “school motto” does invite odious comparisons with religion.

    There’s a lot at stake. Let’s hope they sort it out.

    I missed the intro, busy adjusting my earplugs and the sound (ouch!)

  4. Pingback: A Lesson in Economics from Stephanie Kelton ! |...

  5. Stephen Ferguson

    Steve Keen isn’t that far away from MMT. He hitherto had objections due to difficulty resolving his mathematical model vs MMT’s accounting-based model. My recollection is that this was resolved to Steve’s satisfaction after collaborations with Matheus Grasselli from the Fields Institute and, separately, with MMT blogger Neil Wilson.

    By the way Stephanie and Steve often re-tweet each other!

    • That’s good to know. Steve is still working on his Minsky program which simulates the workings of the economy. It would be good if ‘Minsky’, the program, could be part of MMT too.
      I’m not an economist by background. It’s natural that there are differences of of opinion in any scientific discipline. However, we don’t see the equivalent of Austrian School, or the Chicago School in Physics for example. Differences are eventually resolved. I’d hope that Economics could be like that too.
      But, if any differences that Steve and the MMT group have can’t be resolved, that may be a forlorn hope.

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