Stephanie Kelton On MMT and the Inflation We're Seeing Today | Odd Lots

For years, economists of the MMT school have been arguing that the way we think about deficits and government spending is all wrong. Whereas many people warn about the unsustainability of the national debt -- likening it to a household credit card bill -- the MMT view is that real resources are the constraint on government spending, and that inflation is the sign that real resources are being stretched. So what about now? We had substantial fiscal support during the pandemic, and now we have the highest inflation in over four decades. On this episode we speak with Stephanie Kelton, a leading proponent of MMT, a professor at Stony Brook, and the cohost of the Best New Ideas In Money podcast. We discuss the causes of the current inflation, and how to think about it through the MMT lens. This episode was recorded in Beverly Hills at the Milken Institute Global Conference. Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets. Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts #Bloomberg #Podcast #OddLots Visit us: https://www.bloomberg.com/podcasts Follow Bloomberg Podcasts on Twitter:   / podcasts   Visit our other YouTube channels: Bloomberg Markets & Finance:    / @markets   Bloomberg Politics:    / bloombergpolitics   Bloomberg Technology:    / bloombergtech   Quicktake Originals:    / bloomberg   Quicktake Now:    / @bloomberg-news   Quicktake Explained:    / bloombergexplained   For coverage on news, markets and more: http://www.bloomberg.com/video