Recently on Twitter, as a reaction to an FT post worrying about the growing debts of various governments, fans of MMT were posting screenshots from a May 2020 FT debate involving Stephanie Kelton. The implication was that Kelton had correctly predicted that government debt would be benign. Bob and guest Jonathan Newman dissent.
Stephanie Kelton and Edward Chancellor’s Debate on Government Debt: https://Mises.org/HAP445a
Martin Wolf’s Article on Government Debt: https://Mises.org/HAP445b
Bob’s Debate with Warren Mosler on MMT: https://Mises.org/HAP445c
Bob and Jonathan’s Episode on Price Inflation: https://Mises.org/HAP445d
Bob’s Article on the Economic Outlook for the US: https://Mises.org/HAP445e
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Chapters
00:00 Free Book!
00:25 Introduction
03:38 MMT’s Results over the Past Four Years
12:49 How MMT Views Debt Differently
20:48 Using Interest Rates as a Policy Tool
26:26 Debt Crisis Risks and Historical Examples
34:39 Could Inflation be Useful for Governments?
38:10 Did Kelton Think Inflation was Transitory?
40:05 Kelton’s Prediction