46 Modern Monetary Theory w/ James E Keenan

A billion years ago, James and Jay worked together programming Perl. James was passing through town, was kind enough to offer himself up for recording a podcast episode. Turns out, James has been teaching Modern Monetary Theory (MMT) for years. Several episodes of this podcast include Jay spouting nonsense about MMT, now we have an expert!

046.mp3 (1h 47m 51MB)

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Thanks to Webberized! A great podcasting studio in Omaha Nebraska!

To Learn More About Modern Monetary Theory (MMT), Jim recommends:

• Book: The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy (2020) by Stephanie Kelton
• Mailing List: The Modern-Monetary-Theory Google Group
• Bibliography: ActivistMMT
• James Keenan writes a Substack blog, “Political Economy Watch”

Other links mentioned in the episode:

• 0m: Musical intro by Skytrekg! Click to follow him on Twitch! An amazing traditional (oil, guache, etc) artist, guitarist, and singer.
• NYC Deficit Owls (Modern Monetary Theory/MMT)
• AppliedMMT Podcast w/ Adam Rice
• The New School For Social Research - Political economy and capitalism. Including tracks: Marxist economics and post-Keynesian economics.
• Adam Smith
• David Ricardo
• Hyman Minsky
• L. Randall Wray
  • Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems, Second Edition
• UMKC Department of Economics
• Henry George School of Social Science
• Green New Deal
• Wynne Godley
• Marginal utility
• Heterodox economics
• Edward J. Nell
• Mathew Forstater
• The Best Way to Rob a Bank Is to Own One: How Corporate Executives and Politicians Looted the S&L Industry by William K. Black
• Chautauqua movement
• R.E.A.S.O.N.: Rationalists, Empiricists And Skeptics Of Nebraska
• Warren Mosler
• Bill Mitchell
• Levy Economics Institute of Bard College
• Collapse of Silicon Valley Bank
• The Bonfire of the Vanities by Tom Wolfe
• Progress and Poverty: An Inquiry in the Cause of Industrial Depressions and of Increase of Want with Increase of Wealth… The Remedy by Henry George
• Lawrence Summers
• Neoclassical economics
• Microeconomics
• John Maynard Keynes
  • How to Pay for the War
  • The General Theory of Employment, Interest and Money
• YouTube: War Bonds Commercial with Bette Davis in 1943
• How to Pay for the Green New Deal
• Corvée labor
• Hut tax

“Trump checks” timeline:

• 2017-01: Trump becomes President.
• 2020-03: Round 1: $1,200 per income tax filer, $500 per child (CARES Act)
• 2020-12: Round 2: $600 per income tax filer, $600 per child (Consolidated Appropriations Act, 2021)
• 2021-01: Biden becomes President.
• 2021-03: Round 3: $1,400 per income tax filer, $1,400 per child (American Rescue Plan Act)

Transcript (via OpenAI Whisper):

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