Macro N Cheese

Steve’s guest is Warren Mosler, the originator of Modern Monetary Theory and author of The 7 Deadly Innocent Frauds and  Soft Currency Economics II.
 
Mosler contends that the labor market is an unfair game.  Real wages gravitate towards subsistence level and remain there, even when unemployment comes down.  It’s a systemic problem that can only be addressed through government intervention.  An immediate and universal job guarantee will level the playing field & support wages from the bottom up.  However, he charges that the MMT community is explaining the program incorrectly.  The clarity and precision with which he lays it out will be a revelation.
 
Mosler touches on other ways to address the huge gap in distribution.  He insists that we get rid of the Fed’s “trillion dollar cottage industry,” by forbidding the sale of treasury bills with greater than 3 months maturity.  He also wants the government to get out of the corporate liability business, because corporations should suffer the consequences of their actions.
 
@wbmosler on Twitter
Warren Mosler's Website - http://moslereconomics.com/ (has links for his books!)

UK economic activist, musical comedian and co-host of the MMT Podcast Christian Reilly joins Steve to talk about their joint mission to spread MMT to the international activist community. Reilly explains the motivation that led him to create the seven point MMT Manifesto. They agree that the debate about including the Job Guarantee as an intrinsic component of MMT has been settled; it's not a political plank, it's an economic necessity. In a wide ranging discussion, they look at ways to use MMT to bridge the divide between conservatives, progressives and libertarians.

Christian's Website - https://christreilly.com/

@christreilly & @MMTpodcast on Twitter

The MMT Podcast - https://pileusmmt.libsyn.com/

Special Thanks to Geoffrey Ginter for the excellent intro song! And of course special thanks to our guest Christian Reilly, the donors of Real Progressives and our excellent staff of volunteers.

Steve’s guest, straight from the UK, is Patricia Pino, a founder of the Gower Institute for Modern Money Studies and host of the MMT Podcast. The topic of the day is Brexit, and Patricia explains why it can be as confusing to citizens of the UK as it is to those of us on the outside. Understanding how the eurozone furthers the neo-liberal agenda goes a long way toward untangling the political posturing and mainstream media coverage. With MMT, the UK can avoid Brexit's pitfalls and control their own fate.

@PatriciaNPino on Twitter

https://pileusmmt.libsyn.com/

https://gimms.org.uk/

Two of the key developers of Modern Monetary Theory (MMT) talk about its past, present and future state.  Stephanie Kelton defines the difference between deficit hawks & doves (a la Krugman) as the choice between austerity now or austerity later. Bill Mitchell explains how MMT applies to both large closed economies like the US and small open economies like Australia as well as countries that don’t issue their own currencies. 

Despite different histories & institutional structures, neoliberalism has spared no one in its devastating wake.  Despite some local differences, the overarching progressive agenda is the same for all, and is impossible to achieve without MMT.

Stephanie Kelton is Professor of Economics & Policy at Stony Brook University and was senior economics advisor to Bernie Sanders 2016 presidential campaign.

@StephanieKelton on Twitter

Bill Mitchell is Professor of Economics at University of Newcastle, Melbourne, Australia and creator of the first blog devoted to MMT

http://bilbo.economicoutlook.net/blog/

Dr. Steven Hail teaches economics at the University of Adelaide, Australia. He and host, Steve Grumbine, unpack the IPCC report on the global climate threat and discuss ways to avert the coming crisis. Policy & technology wonks are in for a treat as Dr. Hail talks of the possibility of pulling carbon dioxide from the atmosphere and averting solar radiation. Hail insists on the need for public investment in renewables. Not only do we need green electricity, we need to actually use it. He suggests radical measure like confiscating or nationalizing all coal production.

Both Dr. Hail and Steve Grumbine are proponents of Modern Monetary Theory. As they imagine the ideal society, considerations of fiscal balance and the GDP are the least important measure of success. Their focus is on prosperity and sustainability. They pose the big question: can the scale of economic activity continue to grow without destroying the planet?

@StevenHailAus on Twitter

Check out Steven's book "Economics for Sustainable Prosperity"

https://www.palgrave.com/gp/book/9783319909806

Real Progressives Patreon

Fadhel Kaboub President of the Global Institute of Sustainable Prosperity talks with Steve about the pressing crises of climate change, poverty, and unemployment.  Problems with multiple root causes need a multi-faceted response.  Fadhel describes the failings of the market approach, and uses the lens of MMT to change the narrative and put forth a comprehensive solution.  Along the way he touches on migration, war, and baby boomers, all from an international perspective.  It’s an hour packed with political economy and clarity.

http://www.global-isp.org/

Real Progressives Patreon

In this episode of Macro n Cheese, economy expert and blogger Ellis Winningham joins Steve Grumbine to talk about the biggest economic myths, exposing lies that neoliberals tend to consistently tell mainstream such as the need to "reduce the deficit" or have a "Government surplus". Ellis' passion for economic justice leads him to promoting Modern Monetary Theory relentlessly. He aligns himself with experts in the movement that promote Federal Government programs to end wage suppression. As Federal taxes DON"T fund spending, it is possible to fully implement programs that level the playing field and lift the 99% out of perpetual cycles of poverty that are brought about by austerity.

Now..... Enjoy the very next episode of Macro n Cheese!

Special thatnks to Geoffrey Ginter for the excellent intro song!

And of course special thanks to our guest Ellis Winningham, the donors of Real Progressives and our excellent staff of volunteers.

In this episode of Macro n Cheese, Professor Robert Hockett of Cornell Law and a Fellow of the Century Foundation, talks about how Pelosi's PayGo is dangerously misleading. Steve and Hockett discuss the implications of a Green New Deal. 

Hockett writes about law, justice, money, finance, and economics for Forbes and many other publications.

In this episode of Macro n Cheese, Pavlina Tcherneva of Bard College, the Levy Economics Institute, and the Center for Full Employment and Price Stability (CFEPS) joins Steve Grumbine to talk about the prominent role of women in developing and promoting Modern Monetary Theory. As one of the leading architects of what is known as the Federal Job Guarantee, she explains how redefining work will liberate families as well as the marginalized.

Now…. Enjoy the very next episode of Macro n Cheese!

Special Thanks to Geoffrey Ginter for the excellent intro song!

And of course special thanks to our guest Pavlina Tcherneva, the donors of Real Progressives and our excellent staff of volunteers.

Steve interviews Bill Mitchell on the controversial concept of “Theory” in Modern Monetary Theory, demonstrating that even the most complicated economic concepts can be made accessible to the layperson.  They take on several of the predominant criticisms of #MMT including microfoundations while taking us on a journey through macroeconomics, from Keynes and Milton Friedman including today’s New Keynesians.

Now…. Enjoy the very first episode of Macro n Cheese!

Special Thanks to The MMT Podcast's own Christian Reilly for assisting in audio engineering for this episode!

Special Thanks to Geoffrey Ginter for the excellent intro song!

And of course special thanks to our guest Professor Bill Mitchell, the donors of Real Progressives and our excellent staff of volunteers