University of Missouri-Kansas City Department of Economics Chair and Associate Professor Stephanie Kelton discusses: the Bretton Woods System; the end of the gold standard in 1971; what causes inflation and hyperinflation; why comparisons austerity hawks make to the Weimar Republic and Zimbabwe are flawed; what exactly is a deficit; what the Simpson-Bowles plan really means; the actual purpose of taxes; the contradiction created by Hillary when she claims she wants to reduce the debt and also reduce inequality; Social Security; the salient points omitted by Thomas Piketty; why a return of Labor would benefit us all; why we need to do more than merely raise taxes on those with the highest incomes in order to fight inequality; how the growing awareness going on right now of how our monetary system actually works might enable us to hold our policy makers accountable, thereby potentially creating the best publicly-beneficial use of the system we have by affecting change from the bottom up. https://youtube/watch?v=zGen5o6vAmw
Posted on: Sat, 20 Sep 2014 04:00:27 +0000
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