Is the Magic Money Tree Real?

Why have we been told there isn’t a magic money tree? And could such a thing actually exist? Alex Andreou discusses this question and unpacks modern monetary theory with L. Randall Wray, a senior scholar at the Levy Economics Institute of Bard College who has authored several books on the subject. 

• “For a very long time we've had a view that finance is a scarce resource.”
• “What we have is this belief that the Government is just like a household and it could run out of money.” 
• “There appears to be no limit to the private financial sector’s ability to layer up more debt.” 
• “Politicians are scared to death of inflation… politically, it is a huge issue.” 
• “We argue we should focus on resource availability and the public purpose.” 
• “The economy decides what the deficit will be – it takes two to tango.” 

https://www.patreon.com/bunkercast

Written and presented by Alex Andreou. Lead Producer: Jacob Jarvis. Producers: Jacob Archbold and Jelena Sofronijevic. Assistant Producer: Elina Ganatra. Audio production by Robin Leeburn. THE BUNKER is a Podmasters Production

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