Stephanie Kelton is among the most vocal proponents of “modern monetary theory,” which argues the U.S. has room to run up deficits
As Democrats on Capitol Hill and the campaign trail present an array of ambitious and expensive policy proposals, from a Green New Deal to Medicare for All, the question they face most often is, “How will the government pay for it?”
The answer, increasingly, comes from a professor at Stony Brook University on Long Island, Stephanie Kelton, who has become the public face of an unorthodox strain of economics called modern monetary theory. It is pitting mainstream economists and deficit hawks against left-wing progressives.
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