150 - Rich Man/Poor Man with Stephanie Kelton & Marla Dukharan

The David McWilliams Podcast

David McWilliams

News & Politics

4.6 • 643 Ratings

🗓️ 6 July 2021

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

Up here, in what used to be called the "1st World", the pandemic has focused economists' minds on what can be done to change our thinking after Covid has passed. M.M.T. sets out new economic opportunities available, for example, to the the US. But not all countries have the luxury of this approach built up over decades of wealth and stability. Countries in what is now termed the "Global South" do not have these possibilities. Yet they are the ones that need a break most. Today’s episode contrasts what new economic frameworks meant for countries who are already rich and compares that to the experience from countries who remain poor.

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Transcript

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0:43.6	What in the world is happening on Wall Street?
0:46.0	Economic indicators. Who knows where this is going to end up?
0:49.6	To understand the economy, you have to understand human nature.
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1:02.0	How are you doing there? It is the podcast with a difference because now the podcast is coming from this extraordinary building.
1:10.6	John.
1:10.8	Is this amazing? I love this.
1:12.4	Will we change the locks, move in? This would be just a brilliant HQ for us. Get out of the
1:18.3	basement. We could get out of the basement. The basement's got its own vibe. It's got its own
1:21.8	vibe. Anyway, the podcast is coming today from the Dalky Book Festival. John and I are going to be talking about
1:29.3	MMT, based on an amazing book by Stephanie Kelton. Professor Stephanie Kelton called The Deficit
1:36.8	Myth. If you have not read it, go out and read it. It will change your view about economics.
1:43.7	So we're going to talk to Stephanie
1:45.6	from the United States for the first half of the podcast. Then John and I are going to riff a wee bit.
	...

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