Bernie Sanders's Economic Advisor Wants to Keep Printing Money
Is no shock that The New Yorker ran a piece, August 2019, titled The Economist who believes the government should just print more money. Stephanie kelton, a senior economic adviser to Bernie Sanders and Professor of economics and public policy at stony brook university, is popular in a way that economists almost definitionally are not. Filmmakers trail her with cameras. She goes on international speaking tours. And once it sold out a basketball arena in Italy, kelton is the foremost evangelist of a fringe economic movement called modern monetary theory, which argues in part that the government should pay for programs requiring big spending like the Green New Deal simply by printing more money. This is a polarizing idea. This spring at kelton spoke at The Wall Street Journal's future of everything festival on the day as a journal staffer introduced kelton as an economist with an idea that will either solve the world's problems or send it into ruin. She made a face and then walked on stage. So what exactly does she say? Well, adherents of MMT imagine a world built on MMT principles in which the government provides guaranteed jobs, healthcare affordable college, launches clean infrastructure projects to replace crumbling highways airports and bridges. Kelton, who does at least 5 interviews per week, plus lectures speaking gigs in conferences, is more than anyone else responsible for building MMT's digital army. So what exactly is MMT? Well, it means that we just spend money, and don't worry about it.