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Current Affairs

Bonus excerpt: MMTers Rohan Grey & Raúl Carrillo on shaking the money tree

Current Affairs

Current Affairs

Comedy, Government, News, Culture, Politics

4.4645 Ratings

🗓️ 4 October 2018

⏱️ 10 minutes

🧾️ Download transcript

Summary

An excerpt from today's bonus episode, available in full to our Patreon patrons, in which Current Affairs host Pete Davis talks with the Modern Money Network's Rohan Grey and Raúl Carrillo about Modern Monetary Theory, the big idea shaking up the Left's view of public spending. They — and their ragtag band of economists, activists and politicians — are questioning everything you thought you knew about debt, deficits, spending, and money.

Transcript

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0:00.0

Hello, listeners, it's your host, Pete Davis here.

0:06.0

We've got a great bonus episode that just went live on the bird feed today.

0:11.6

It's on what I believe is one of the biggest waves that is about to hit politics in America.

0:17.5

Modern Monetary Theory.

0:20.7

For those of you who don't know, the modern monetary theory, or

0:24.5

MMT community, is a rag-tag band of economists, politicians, and activists who are arguing

0:32.2

that the way people in power think about money, government spending, and deficits is all wrong. And their

0:41.0

alternative way of seeing money has revolutionary consequences. I have two big MMTers, Rohan Gray,

0:50.7

and Raul Carrillo of the Modern Money Network on the bird feed today in a bonus episode

0:56.4

to explain MMT from the ground up and get you questioning everything you thought you knew

1:03.4

about debt, deficits, spending, and money. An excerpt from the episode is coming shortly, but if you want to hear the full episode,

1:13.9

all you got to do is become a patron on our Patreon page at patreon.com slash current affairs. You give us

1:20.9

$5 a month. You get access to the whole current affairs extended universe of all of our interviews

1:26.0

and bonus episodes.

1:27.7

If you don't want to do that, that's totally fine too.

1:31.1

We'll have another episode on the main feed for free shortly.

1:34.8

But for now, here's me, Raoul, and Roan.

1:40.0

By the Infinity Sign, what you mean is we can just start spending money as the federal government on things that we want.

1:49.6

So if we want a tank built, we can pass a bill to build the tank and build the tank.

1:56.3

Or if we want a federal jobs program, we can pass a bill to start paying people money for a federal

2:02.2

jobs program. So the listener is thinking, this is the first idea that a seventh grader has in their

2:09.7

middle school economics thing, which is in their middle school economics class, which is, oh,

...

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