Thursday, November 22, 2018

Michael Janda — Trump and Sanders agree on one key aspect of economic policy — here's how

So, both Mr Trump and Mr Sanders were proposing stimulatory economic policy at a time when the US economy was already at, or near, what economists consider full-employment, something that most economists warned might trigger runaway inflation.
Most economists, but not Bernie Sanders' senior economic adviser, Stephanie Kelton.
The economics professor from Stony Brook University in New York treads an unusual path between advising a number of left-leaning Democrats and holding the ear and support of a number of Wall Street financiers.

She is one of the world's leading proponents of "modern monetary theory" (MMT) — an economic theory that, essentially, argues budget deficits simply don't matter, because most governments print their own money....
Professor Kelton doesn't want to give the impression governments can spend without restraint simply because they control the purse strings....
But she argues that doesn't mean there needs to be a "reserve army" of unemployed, as Marx labelled them, in order to keep wage rises and inflation under control.... 
Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders


Klein is executive editor of the Washington Examiner — 
He formerly served as the Examiner's managing editor and commentary editor. Prior to that, he was a Washington correspondent for the American Spectator and a reporter for Reuters. He is a graduate of George Washington University and holds a master's degree in journalism from Columbia University.
Based on his credentials, Klein is clearly unqualified to comment on economics or finance. Laughable. IN fact, he is part of the hoax.

The Washington Examiner
Former Bernie Sanders adviser makes bizarre case that the debt crisis is a 'hoax' Philip Klein | executive editor of the Washington Examiner

1 comment:

Matt Franko said...

“He is a graduate of George Washington University and holds a master's degree in journalism from Columbia University.”

Journo with Art Degree....