Prosperity for All: Understanding Modern Monetary Theory with Fadhel Kaboub
Is prosperity for all actually possible? Modern monetary theory (MMT) says it is.
Tune in to discover:
- What two primary sources create the risk of inflation
- Which markets in the U.S. are prone to raising prices more than they “should”
- How attracting tourists can help the economy in some countries in the short term, but ultimately worsens it
- Why the U.S. may need to restart the basis of the U.S. economy within the next decade
Fadhel Kaboub is a professor of economics at Denison University, President of the Global Institute for Sustainable Prosperity, and an authoritative source on MMT. This theory is an approach which counters tenets of the mainstream policy framework.
Specifically, the mainstream policy framework embraces the idea that if tax revenues can’t be raised for it, or if money can’t be borrowed from financial markets for it, then the government simply can’t afford it.
And, if the government were to spend money on it, then inflation and eventual bankruptcy of the country would result. In contrast, MMT says this isn’t actually the case, but in fact there is an abundance of spending capacity…we just aren’t looking in the right place.
Kaboub’s work comes from this background theory, and focuses on public policies which encourage monetary and economic sovereignty in the Global South.
He recognizes the difference in degree of unused spending capacity in different countries, explaining the structural deficiencies which contribute to weakening currencies. He also discusses why so many of the strategies for strengthening economies fail, and actually lead to a worsening of the situation.
Long-term strategic visions are paramount for maintaining a sovereign monetary system and geopolitical influence. Where does the U.S. and other countries fall in this regard?
Kaboub explains this and so much more.