Stephanie Kelton Profile picture
Mar 22, 2018 3 tweets 2 min read Twitter logo Read on Twitter
Almost 20 yrs ago (1999), Randy Wray, @mattybram, @ptcherneva and I brought the Center for Full Employment & Price Stability to #UMKC. For two decades, we hosted conferences, advised policmakers, and published volumes of research on the #JobGuarantee.
Our doctoral program produced dozens of students who wrote their dissertations on some aspect of the #JobGuarantee. People like @FadhelKaboub now run their own Institutes with the #JG at the core.
Point is, we’ve been at this a for a very long time. Sometimes it felt like a losing battle. But here we are today with #JG in the headlines every day.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Stephanie Kelton

Stephanie Kelton Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @StephanieKelton

Sep 15, 2018
Government borrowing (debt) is not like private borrowing (debt). Let me explain. 1/x
Suppose I am the government, and I spend 10 greenbacks into the economy. Visualize them flowing from my hands into the economy. Now there are 10 green pieces of paper in the hands of consumers/businesses. 2/x
This is all income to someone. Taxes will be paid on a percentage of that new income. Let's suppose the people send 7 of those greenbacks back to the federal government, in the form of taxes, leaving them with 3 greenbacks. 3/x
Read 8 tweets
Sep 3, 2018
A core proposition in #MMT is that we can always create whatever money is necessary to maintain a full employment economy. The Federal Reserve building is named after the Fed Chairman who made the same point in 1939. #MarrinerEccles
Here's Eccles--a businessman and a banker--calling B.S. on business leaders and their argument that tax cuts & deregulation would unleash a powerful (trickle-down) effect that would boost output and employment.
Here he is arguing that tax cuts should be aimed at the real job creators--consumers --especially low-income workers. For economic *and* social equity reasons.
Read 7 tweets
Sep 15, 2017
"There's nothing to prevent the federal government from creating as much money as it wants and paying it to someone." ~ Alan Greenspan
This should not be a controversial observation. We are not on a gold standard. The US government controls its currency.
It's a fiat currency, & the US can issue it at will. It never needs to borrow or tax in order to spend, and it can never "run out of money."
Read 14 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(