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Why the Elite are Living In an Economic Fantasy (with Stephanie Kelton)

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Published on Nov 26, 2012

Professor Stephanie Kelton explained the origins of the Bretton Woods system, why US policy makers still make policy as if we were in a gold standard world, why we will not become like Greece, what really creates hyper inflation, why the US can easily reach full employment without inflation, the problem is demand, why the inflation of the 70s was not driven by government seeking full employment, why the "solutions" to the fiscal cliff will produce a fiscal crisis, what is the best policy to follow now and how the economic debate is changing.

This clip from the Majority Report, live M-F at 12 noon EST and via daily podcast at http://Majority.FM

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