'What we would do is effectively establish a public option in the labor market,' says Sanders Institute fellow Stephanie Kelton.
Economist Stephanie Kelton, an advisor to Bernie Sanders' 2016 presidential campaign, says there's a way to run the economy to pay for liberal priorities like guaranteed government jobs for anybody who wants to work and Medicare-for-all.
At the core of MMT is jobs, said Kelton, a fellow at the Sanders Institute, a group founded by Jane O'Meara Sanders, wife of the Vermont senator who announced last month another Democratic run for the White House. Kelton argues that MMT would use"full employment to fight inflation" by giving companies that want to hire a better option."They don't have to bid wages up trying compete with one another for employed workers. They can hire from this pool, this ready-pool of skilled workers who are employed in public service jobs."
"Whether you're part of the Modern Monetary Theory people that think you can basically finance more government with the printing press or whether you're talking about it in the sense that Stephanie is talking about it, where you just have bigger government that's supposedly going to be a perpetual motion machine for the economy, in either way I think we're at risk at best copying the economic policies of Greece, and at worst copying the economic politics of Venezuela,"...
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