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Podcast: The DemystifySci Podcast
Episode: Tally Sticks, Paper Money, and Central Banking - Dr. L. Randall Wray, Levy Institute, DSPod #288
Description: L. Randall Wray is a professor of Economics at Bard College and Senior Scholar at the Levy Economics Institute who is a long-term proponent of Modern Monetary Theory, a heterodox macroeconomic theory that teaches the government should not worry about accruing debt, because it is always able to print more money to service that debt. This is one of those theories that sounds too good to be true - how could it be that there’s nothing wrong with debt, and that there’s nothing stopping a country like the United States from spending as much as it wants on s...