May 19, 2022· 49 min

Stephanie Kelton On MMT and the Inflation We're Seeing Today

Stephanie Kelton

Orality

Model

77%

Oral-dominant (speeches, podcasts, storytelling)

Speaker Breakdown

HostJoe Weisenthal(2,511 words)

M:29%

HostTracy Alloway(4,704 words)

M:28%

GuestStephanie Kelton(1,790 words)

M:28%

Oral Indicators

Agonistic21%

obviously, very, incredible

Engagement77%

you, our, your

Memory Aids100%

listen, like, right

Repetition100%

know (123x), like (100x), inflation (84x)

Parallelism90%

And I'm Tracy Alloway...., So that kinda tells you everyt..., But of all the things, I was a...

Sound Patterns90%

88 question(s), alliteration: "markets move", alliteration: "barclays brief"

Formulaic Phrases6%

you know what, i mean, to be honest

Literate Indicators

Hedging10%

may, appears, probably

Passive Voice6%

was called, been employed, was elected

Abstract Nouns17%

investment, business, chase.com/business

Subordination5%

though, because, although

Sentence Length37%

Avg: 14.1 words/sentence

Word Complexity46%

investment, analyze, anticipate

Academic Markers0%

Impersonal Style23%

748 personal pronouns found

Descriptive Style79%

apply, internationally, beverly

Description

For years, economists of the MMT school have been arguing that the way we think about deficits and government spending is all wrong. Whereas many people warn about the unsustainability of the national debt -- likening it to a household credit card bill -- the MMT view is that real resources are the constraint on government spending, and that inflation is the sign that real resources are being stretched. So what about now? We had substantial fiscal support during the pandemic, and now we have the highest inflation in over four decades. On this episode we speak with Stephanie Kelton, a leading proponent of MMT, a professor at Stony Brook, and the cohost of the Best New Ideas In Money podcast. We discuss the causes of the current inflation, and how to think about it through the MMT lens. This episode was recorded in Beverly Hills at the Milken Institute Global Conference. See omnystudio.com/listener for privacy information.

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