Is the Magic Money Tree Real?
Thursday, 14 July
Why have we been told there isn’t a magic money tree? And could such a thing actually exist? Alex Andreou discusses this question and unpacks modern monetary theory with L. Randall Wray, a senior scholar at the Levy Economics Institute of Bard College who has authored several books on the subject.
“For a very long time we've had a view that finance is a scarce resource.”
“What we have is this belief that the Government is just like a household and it could run out of money.”
“There appears to be no limit to the private financial sector’s ability to layer up more debt.”
“Politicians are scared to death of inflation… politically, it is a huge issue.”
“We argue we should focus on resource availability and the public purpose.”
“The economy decides what the deficit will be – it takes two to tango.”
Written and presented by Alex Andreou. Lead Producer: Jacob Jarvis. Producers: Jacob Archbold and Jelena Sofronijevic. Assistant Producer: Elina Ganatra. Audio production by Robin Leeburn. THE BUNKER is a Podmasters Production
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