Modern Monetary Theory and Covid19: An interview with Randall Wray
Why you should watch:
Modern Monetary Theory builds on something pretty obvious – that countries which print their own money and don’t incur debts in foreign currencies don’t go broke. It takes that truism and builds a different way of looking at government’s role – and particularly at the constraints that governments face when making spending decisions. For MMT adherents, it makes sense for governments to go on spending productively until they hit a resource constraint – usually, until all ‘surplus’ labour is gainfully occupied, either in the private sector or through a public job creation scheme.. One of the leading exponents of MMT is Prof Randall Wray, from Bard College, and in this interview (with Andrew Hilton) he talks about MMT and the pandemic, its link to the Green New Deal, and how it is seeping into mainstream economics.
Prof Randall Wray is Professor of Economics at Bard College in NY State, and a Senior Scholar at the Levy Institute of Economics. He has a PhD from Washington University in St Louis, where he worked with Hyman Minsky, and taught for many years at the University of Missouri – Kansas City, where much of the academic work on MMT was first done. He is the author of a number of books, including Understanding Modern Money (1998), Modern Money Theory (2012), and A Great Leap Forward: Heterodox economic policy for the C21 (2020).
Bideoa: https://www.youtube.com/watch?time_continue=8&v=IqDmCpVJfv4&feature=emb_logo
Gehigarriak:
Randall Wray-ren bi lan (2020)
a) STATEMENT: House Budget Committee, “Reexamining the economic costs of debt”
b) ALTERNATIVE PATHS TO MMT
http://neweconomicperspectives.org/2020/01/alternative-paths-to-mmt.html
