Making The Case Against Austerity

by Stephanie Kelton This article was originally published in New Economic Perspectives Neil Irwin at Wonkblog has a new post up:  The Deficit is Falling Fast. Can Washington Accept Victory? He quotes John Makin of the American Enterprise Institute, who says, approvingly, that the U.S. has probably imposed enough austerity “for now.” Then he shows us …

Stephanie Kelton Lecture on Sectoral Balances and the Fiscal Cliff

The following lecture was given by Stephanie Kelton, Associate Professor of Economics at the University of Missouri Kansas City to the New America Foundation / Economic Growth Program / Economists for Peace and Security in Washington, DC, 13 November 2012.  The lecture is available in two forms:  a slide presentation with audio and on a …

Federal Reserve: Can We Run Out of Money?

Guest Author: Stephanie Kelton Federal Reserve Chairman Ben Bernanke gave his fourth lecture at George Washington University yesterday. Buried in the lecture, beginning at about 19:18 in the video (shown below), Bernanke explained where the Fed got the money to “pay for” the assets it purchased as part of its Quantitative Easing (QE) policies. I …