DiscoverPitchfork Economics with Nick HanauerThe velocity of money (with Ann Pettifor)
The velocity of money (with Ann Pettifor)

The velocity of money (with Ann Pettifor)

Update: 2021-02-232
Share

Description

Over the last century, the velocity of money—the rate at which money changes hands through the economy—has declined. Today, money moves at one of the slowest rates on record, meaning every dollar today generates 70% less economic activity than a dollar did just ten years ago. That has big implications for our economy. Political economist Ann Pettifor joins Nick and Goldy to explain how the velocity of money is related to money creation, and why taxing the rich is ultimately pro-growth (it’s all related, we promise!). 


Ann Pettifor is a political economist, author, and public speaker, and the Director of PRIME (Policy Research in Macroeconomics). Her work focuses on the global financial system, sovereign debt restructuring, international finance, and sustainable development. She is the author of many books, including The Production of Money and The Case for the Green New Deal


Twitter: @AnnPettifor


Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics 


Further reading: 

Want to expand the economy? Tax the rich! 

https://prospect.org/power/want-expand-economy-tax-rich/ 


A world awash in money: https://media.bain.com/Images/BAIN_REPORT_A_world_awash_in_money.pdf


What does money velocity tell us about low inflation in the U.S.? https://www.stlouisfed.org/on-the-economy/2014/september/what-does-money-velocity-tell-us-about-low-inflation-in-the-us 


Vultures are circling our fragile economy… https://www.annpettifor.com/2020/06/vultures-are-circling-our-fragile-economy/ 


Decades of empirical research finds no inverse correlation between top tax rates and growth: 






Website: http://pitchforkeconomics.com/

Twitter: @PitchforkEcon

Instagram: @pitchforkeconomics

Nick’s twitter: @NickHanauer

Comments 
Download from Google Play
Download from App Store
00:00
00:00
x

0.5x

0.8x

1.0x

1.25x

1.5x

2.0x

3.0x

Sleep Timer

Off

End of Episode

5 Minutes

10 Minutes

15 Minutes

30 Minutes

45 Minutes

60 Minutes

120 Minutes

The velocity of money (with Ann Pettifor)

The velocity of money (with Ann Pettifor)

Civic Ventures