S1 / E9 A People's Economy with Stephanie Kelton
The Marianne Williamson Podcast
Marianne Williamson
4.8 • 1K Ratings
🗓️ 17 December 2020
⏱️ 81 minutes
🧾️ Download transcript
Summary
From health care to education, policy proposals that do the most to help people live better lives are often met with the question, "But how are you going to pay for it?" That's where Stephanie Kelton - the "people's economist" - comes in.
A former Chief Economist on the Senate Budget Committee and Bernie Sanders advisor, Kelton says the money is available to us right now to do everything we need to do to change our society for the better.
Why then aren't we spending it? Because, according to Kelton, we've been fed the "deficit myth" - the constant refrain that the only money available is money that will help those who already have a lot of it.
Kelton's book "The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy" turns economic thinking on its head and leaves us hopeful that a compassionate, more equitable society is possible.
Hang around after the interview for Ask Marianne: Marianne answers questions about arts in schools and the practice of peace-building.
Follow Stephanie on Twitter: https://twitter.com/stephaniekelton
Stephanie's website: https://stephaniekelton.com
The Deficit Myth: bit.ly/3mmfSee
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Transcript
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| 0:00.0 | Hey everybody, Mary M. Williamson here and thank you so much for joining me. I'm very excited |
| 0:20.2 | about our conversation that matters today with economist Stephanie Kelton. I want to begin |
| 0:26.0 | by talking about how a caterpillar becomes a butterfly. A caterpillar literally disintegrates |
| 0:33.0 | and it disintegrates into what scientists called an imaginal soup. A soup of what is called |
| 0:41.2 | imaginal cells and out of these imaginal cells comes the butterfly. When it comes to economics, |
| 0:47.9 | that's how I see Stephanie Kelton. There's no question but that we are an economic crisis in our |
| 0:53.7 | country right now and in many ways the world is an economic crisis. But what the United States is |
| 0:58.6 | going through now with COVID, et cetera. 93 million people were living near poverty even before |
| 1:04.8 | the pandemic. Eight million people more have been thrown onto poverty since it began and we have |
| 1:11.0 | a congress which is even as we speak with holding the economic resources that people need literally |
| 1:18.4 | in order to survive. We have millions who might be thrown out of their homes. We have millions |
| 1:23.9 | who are wondering how they're going to feed their children. It's extraordinary the coldness and |
| 1:30.7 | even the cruelty. I don't think it's hyperbole to say cruelty of a congress that will make sure |
| 1:38.2 | that the Pentagon gets funded this week but still can't seem to get it together to give the kind |
| 1:43.1 | of financial relief to people that people so desperately need. Well, we know that something is |
| 1:49.2 | terribly wrong that this is true but we need those who can articulate for us how we got here |
| 1:55.2 | what's happening now and how to make things right. And that's where Stephanie Kelton comes in. |
| 2:00.3 | Incredible book. It's a bestseller. I highly recommend it but a silver lining that's inherent |
| 2:06.4 | in the pandemic is most of us have more time to read than usual and it's a good good thing |
| 2:14.6 | anything that gives us the opportunity to catch up on reading. The book is the deficit myth, |
| 2:19.9 | modern monetary theory and the birth of the people's economy. So I have had the honor of knowing |
| 2:28.0 | Stephanie Kelton for a bit of time. I just think the world of her is a person and I certainly think |
... |
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