Fadhel Kaboub: Modern Monetary Theory and the Progressive Agenda
Channel: Ed Mays
Date: 2020-04-23

A preeminent scholar on Modern Monetary Theory (MMT), economics professor Fadhel Kaboub explains how a country like the United States can implement a Green New Deal program without causing inflation or bankrupting the country.  It illustrates that we can create millions of good paying jobs to build resilience to climate change, address inequality, and strengthen the democratic process.  Although, MMT is called a ‘theory’, it is actually a framework for understanding how governments like the United States that control their own currencies spend money into existence.

As Professor Kaboub explains, this was the case even before the US went off the gold standard.  It is how we funded WWII and the New Deal, NASA's Apollo program, the trillions spent since the 2008 crash propping up the banking system in so called “quantitative easing”, and the money the Federal Government is dishing out at this very moment to keep the economy from crashing with the COVID-19 stimulus package and CARES Act.  Nobody seems to be asking, “Where’s all this money coming from?”  Yet as soon as you start talking about policies like Medicare for All, Free Education, or a Green New Deal, that’s the first thing that always come up.  You’ve been chumped!

Fadhel Kaboub, is Associate Professor of Economicsat Denison University, and President of Global Institute for Sustainable Prosperity.  He gave this talk at the annual conference of the Ohio Association of Family & Consumer Sciences (OAFCS) in Columbus, Ohio (February 13, 2020).

Thanks to GISP and Meshach Malley for recording the event.
See also: Global-ISP.ORG

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