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Stephanie Kelton -The Angry Birds Approach to Understanding Deficits in the Modern Economy

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Published on Nov 1, 2015

Stephanie Kelton -The Angry Birds Approach to Understanding Deficits in the Modern Economy. Dr. Kelton clears up the misinformation on Fed Deficits being told Americans.

Stephanie Kelton BIO: Kelton studied Business Finance and Economics at the California State University, Sacramento, earning a B.S. and a B.A. in 1995. She received a Rotary scholarship to study Economics at the University of Cambridge, receiving her Master in 1997. On a fellowship from Christ's College, Cambridge, Kelton then spent a year at the Levy Economics Institute of Bard College. She obtained a Ph.D. in Economics from The New School in 2001 with her dissertation, "Public Policy and Government Finance: A Comparative Analysis Under Different Monetary Systems. Professor Kelton is also Chair of the Department of Economics at the University of Missouri-Kansas City explains the Bretton Woods System and the end of the Gold Standard in the 1970s, why comparisons to the Weimar Republic and Zimbabwe made by austerity promoters are wrong, high inflation does not happen in well-functioning democracies, why we think about the deficit in the wrong way, the smart way to think about the Simpson Bowles austerity plan, the purpose of taxes, Hillary Clinton running on bringing down the debt and addressing the inequality crisis, Social Security and inequality, what Thomas Piketty misses, why labor needs to make a comeback and why fighting inequality must go beyond raising taxes at the top.

Stephanie Kelton is an Economic Advisor to the Bernie 2016 presidential campaign. She served as Chief Economist on the U.S. Senate Budget Committee (minority staff) and is Professor of Economics at the University of Missouri-Kansas City. She was the Founder and Editor-in-Chief of the top-ranked blog New Economic Perspectives and a member of the TopWonks network of the nation’s best thinkers. Her book, The State, The Market and The Euro (2001) predicted the debt crisis in the Eurozone, and her subsequent work correctly predicted that: (1) Quantitative Easing (QE) wouldn’t lead to high inflation; (2) government deficits wouldn’t cause a spike in U.S. interest rates; (3) the S&P downgrade wouldn’t cause investors to flee Treasuries; (4) the U.S. would not experience a European-style debt crisis.

Stephanie consults with policymakers, investment banks and portfolio managers across the globe. Her research expertise is in: Federal Reserve operations, fiscal policy, social security, health care, international finance and employment policy. Follow her on Twitter @stephaniekelton or at her website http://stephaniekelton.com

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