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Current Affairs

Is MMT Real? #1: Stephanie Kelton

Current Affairs

Current Affairs

Comedy, Government, News, Culture, Politics

4.4645 Ratings

🗓️ 1 December 2020

⏱️ 96 minutes

🧾️ Download transcript

Summary

Modern Monetary Theory—three simple words that are tearing apart the left. Pete Davis and Sparky Abraham have spent the last few years feeling curious and confused about this highly contentious theory, which posits that the U.S. government can deficit spend much more than it currently believes it can. (Or maybe it doesn't posit that. We're not sure.) Together, they've decided to launch a new series, in which they will interview people across the spectrum of left economics, ask questions, admit what they don't know, and try and muddle through one of the most complex questions in the world of policy: is MMT real? Episode #1 in this special series is available here for free, and episodes two through five will be released to our Patreon subscribers throughout the week. In the near future, the series will be published on a separate feed, where it will be made available to all in full. But if you want to hear the series as soon as possible, you can do so by subscribing to our $5 tier at www.patreon.com/CurrentAffairs! This episode was edited by Dan Thorn of Pink Noise Studios in Somerville, MA.

Transcript

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0:00.0

Run the money printer, make you go burn.

0:05.0

Let's do it.

0:06.0

Is MMT real? Hello,

0:28.6

Hello, listeners.

0:34.6

As you can tell by that slightly augmented theme song, something special

0:40.5

is afoot in this episode. I'm here as Pete Davis. I'm here with Sparky Abraham, our finance editor

0:45.7

at Current Affairs. Hi, Pete. And we are embarking on a journey together, Sparky. It is going to be a

0:53.2

journey. Yes, I expect so.

0:54.5

The waters will not be calm throughout the whole journey.

0:57.6

No, no, we're going to encounter some storms, I expect.

0:59.8

Yes, storms, interior, exterior.

1:02.9

It's going to be exciting.

1:04.1

As you can tell by the title of this episode, this is the beginning of a series called

1:09.0

provocative title.

1:13.3

Is MMT Real?

1:19.4

Sparky, could you talk a little bit about why we wanted to do this series?

1:21.0

Yeah, yeah, sure.

1:22.2

So here's the thing.

1:23.0

I don't know anything.

1:27.5

I mean, I don't know anything generally, but I really don't know anything about like macroeconomics, right?

1:29.1

Like, you don't know anything either, right?

1:29.6

No.

...

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