Stephanie Kelton and friends are presenting their radical Modern-Monetary-Theory (MMT) idea as the panacea to all of humanity problems. The main concept of MMT is that government can spend on whatever it feels like. At the end of the day, it is the bureaucrats in the government who get to decide where every citizen's toil and sweat should be channeled into. Should the government decide that Bill Gates needs to get all of your money, and he shouldn't have any competitors, they are wholly free to do so, and they are doing it. There is apparently no constraint or anything that can stop the government from choosing what is best for YOU.
The only thing that is supposedly "easy to calculate" and can stop the rampant spending by government is the risk of inflation. Kelton doesn't even try to explain what Inflation is, or how it is created, she just mentioned that it is important and easy to math out. So the government creating dollars and spending them into the economy in the trillions has nothing to do with inflation. As long as there are enough poor people who can use these dollars to spend like drunken sailors and keep the economy out of a depression.
If you ever had any interest in economy, and you read some significant books by influential economists in history, you might want to call 911 because this "documentary" is going to give you a heart attack.
The bureaucrats in the USSR would be really envious to have some of this MMT drug to explain away their perfect economic system.
The only thing that is supposedly "easy to calculate" and can stop the rampant spending by government is the risk of inflation. Kelton doesn't even try to explain what Inflation is, or how it is created, she just mentioned that it is important and easy to math out. So the government creating dollars and spending them into the economy in the trillions has nothing to do with inflation. As long as there are enough poor people who can use these dollars to spend like drunken sailors and keep the economy out of a depression.
If you ever had any interest in economy, and you read some significant books by influential economists in history, you might want to call 911 because this "documentary" is going to give you a heart attack.
The bureaucrats in the USSR would be really envious to have some of this MMT drug to explain away their perfect economic system.