Professor Stephanie Kelton Chair of the Department of Economics at the University of Missouri-Kansas City explains the Bretton Woods System and the end of the Gold Standard in the 1970s, why comparisons to the Weimar Republic and Zimbabwe made by austerity promoters are wrong, high inflation does not happen in well functioning democracies, why we think about the deficit in the wrong way, the smart way to think about the Simpson Bowles austerity plan, the purpose of taxes, Hillary Clinton running on bringing down the debt and addressing the inequality crisis, Social Security and inequality, what Thomas Piketty misses, why labor needs to make a comeback and why fighting inequality must go beyond raising taxes at the top.
This clip from the Majority Report, live M-F at 12 noon EST and via daily podcast at http://Majority.FM
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