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Podcast: Debunking Economics - the podcast
Episode: Cashed up and nowhere to go
Description: Governments have been spending their way through the pandemic, so what happens to that money? Regular listeners will understand how this spending gets added to the money supply, but then what? Steve Keen looks at the impact of government spending on the private sector, and Phil Dobbie asks if this is a prime example of modern monetary theory in action? Could the COVID years be used as the case study of how MMT works? There’s also some discussion on whether government handouts, like furlough payments, were the best approach. Would tax cuts have had the same impact? And what’s th...