Modern Money & Public Purpose 2: Governments Are Not Households





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Published on Oct 17, 2012

The Columbia Pre-Law Society Proudly Presents:

GOVERNMENTS ARE NOT HOUSEHOLDS: Implications Of Monetary Sovereignty & Stock-Flow Consistent Accounting

Moderator: Thomas Edsall, Joseph Pulitzer II and Edith Pulitzer Moore Professor of Journalism, Columbia University

Speaker 1: Warren Mosler, President, Valance Co., Inc.

Speaker 2: Stephanie Kelton, Associate Professor of Economics, University of Missouri-Kansas City

Part of the 2012-2013 Seminar Series on Contemporary Issues in Law and Political Economics organized by the Workers' Rights Student Coalition


Tuesday, September 25, 2012

This seminar will examine the legal and institutional structure of the current global monetary system, with a particular emphasis on the economic freedoms afforded to nations such as the U.S., U.K., Japan, Canada and Australia that use a non-convertible fiat currency with a floating exchange rate. Questions to be addressed include:

How does a fiat currency with a floating exchange rate differ from other types of currencies?

How does government spending and taxation work?

Why is accounting important for understanding the economy?

How can monetarily sovereign nations address their current economic problems?


Stephanie Kelton, Ph.D. is Associate Professor of Economics and Chair of the Economics Department at the University of Missouri-Kansas City, Research Scholar at The Levy Economics Institute and Director of Graduate Student Research at the Center for Full Employment and Price Stability. Her research interests include monetary theory, fiscal policy, Federal Reserve operations, international finance and employment policy. Dr. Kelton can be followed on Twitter @deifictowl as well as at the blog New Economic Perspectives, which she created and currently edits.

Warren Mosler is the President of Valance Co, Inc., and Senior Financial Advisor to Senator Ronald E. Russell, President of the 29th Legislature of the U.S. Virgin Islands. He is the founder and current manager of the III Funds, which peaked at over $5 billion AUM in 2007 and currently manages about $1.5 billion, as well as the Founder and President of Mosler Automotive, which manufactures the MT900 sports car in Riviera Beach, Florida. Mr. Mosler has written a number of academic papers on issues relating to macroeconomics and monetary policy, and is the author of Seven Deadly Innocent Frauds of Economic Policy (2010). He maintains a personal blog, moslereconomics.com, and can be followed on Twitter @wbmosler.


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