Stephanie Kelton: Understanding Deficits in a Modern Economy

To quote her own presentation:
- Our fears about debt and deficits are driven by an outdated gold standard ideology
- Money is not a finite "thing"
- Deficits can be too big or too small
- The goal is a balanced economy, not a balanced budget

The fact that Stephanie, or anyone from UMKC's Department of Economics, could become Bernie Sanders' chief economist on the Senate Committee on the Budget makes it all the more depressing to see the corresponding state of affairs in Europe.

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