In a new study out of the Levy Economics Institute, The Macroeconomic Effects of Student Debt Cancellation, Scott Fullwiler, Stephanie Kelton, Catherine Ruetschlin, and Marshall Steinbaum examine the macroeconomic impacts of an outright cancellation on all outstanding student debt, public and private.
The report set out to answer a simple question: What if all of the $1.4 trillion in U.S. student debt went away? In this special audio clip from our upcoming episode with Stephanie Kelton on Modern Monetary Theory and budget deficit myths, we ask Professor Kelton to walk us through the findings. Check back for the full episode in the coming weeks.Read more
"A sovereign currency issuer like the UK Government (or the US Government) has no physical limits on how much money it can create and spend. This is by definition and not a matter of opinion."
Patricia Pino explains how the UK general election exposed the ignorance of politicians and the general public around the subject of macro-economics.Read more