Stephanie Kelton
Stephanie Kelton is the bestselling author of The Deficit Myth and a leading authority on Modern Monetary Theory (MMT). Bloomberg’s Tom Keene has credited her with having “a greater influence on the debate of our American economics than anyone out there.” An economist with a fundamentally different perspective on inflation, government debt and deficits, and economic policy overall, Stephanie challenges audiences to see the world through a different lens and reconsider everything they’ve been told about the economic systems that shape our lives.
When it comes to debates on fiscal policy and the so-called unsustainable path of government finance, there is no one better to have in the room than Stephanie Kelton. Guaranteed to shake up the conversation, she debunks widely accepted myths about constraints on government spending and reveals innovative solutions that strengthen government efficacy and impact. Allianz’s chief economic advisor, Mohamed El-Erian, has said that she “is sure to influence many aspects of policymaking going forward.”
Her book, The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy, was an instant New York Times bestseller that maintains relevance years after its publication. Called provocative and engaging by Boston Business Journal, the book challenges conventional wisdom about government debt and reveals a framework for moving from a narrative of scarcity to one of opportunity. Kelton is a key subject matter expert in Finding the Money, a 2023 documentary on MMT that flips understanding of debt upside down and empowers global democracies to tackle the biggest challenges of the 21st century.
In addition to her many academic publications, Stephanie has been a contributor at Bloomberg Opinion and has written for the Financial Times, New York Times, Los Angeles Times, U.S. News & World Report, CNN, and many others. Her commentary can also be heard regularly on both radio and television. She served as co-host of MarketWatch’s New Ideas in Money podcast for the show’s nearly 100 episodes and currently delivers economic analysis, research, and commentary using a MMT framework to over 16,000 subscribers through her Substack, The Lens.
Professor Kelton has worked in both academia and politics, advising policymakers and consulting with investment banks and portfolio managers across the globe. In 2015, she served as chief economist on the U.S. Senate Budget Committee (Democratic staff). She has been named one of POLITICO’s 50 most influential thinkers, Barron’s 100 most influential women in finance, Prospect’s top 50 thinkers, and one of the Bloomberg 50.
Kelton is a Senior Fellow at the Schwartz Center for Economic Policy Analysis and a Professor of Economics and Public Policy at Stony Brook University. She has held Visiting Professorships at The New School for Social Research, the University of Ljubljana, and the University of Adelaide and was previously Chair of the Department of Economics at the University of Missouri, Kansas City.
Topics
A Global Economic Outlook for a Deglobalizing World
Wars. Social uprisings. Climate disasters. A global pandemic. The past few years have seen no shortage of world-changing events. And the future doesn’t look too calm either. As a result, we’re witnessing a massive paradigm shift away from the rampant globalization that has ruled the economic landscape for the past few decades. Governments and businesses alike are turning inward, investing domestically to become less reliant on international connections that could become disrupted in the blink of an eye. What does this refocusing mean for trade relationships, business strategy, and global politics? In this talk that evolves to address the concerns of the present moment, Professor Stephanie Kelton explores the global economic trends, geopolitical circumstances, and financial market shifts that are shaping and reshaping our world.
Beyond Austerity: A Fresh Perspective on Inflation
Conventional wisdom leads us to believe that “printing too much money” is one of the leading causes of inflation. Conventional wisdom also says the only way to lower inflation is to stifle consumer demand, usually with cuts to the labor market designed to tighten pockets. Unfortunately, conventional wisdom isn’t always wise. It’s time to rethink our understanding of inflation. In this talk, Professor Stephanie Kelton provides a grand tour of the inflation landscape, exploring the role central banks, corporate greed, climate change and other oft-overlooked factors play in making life more expensive. Audiences will walk away with a more nuanced understanding of inflation and with informed insights on addressing inflationary pressures without intentionally tanking the economy.
The Deficit Myth: From Scarcity to Opportunity
What if everything you knew about money was wrong? What if solutions to global problems like poverty, inadequate healthcare, and climate change were never again met with the question “How will we pay for it?” Enter Modern Monetary Theory. Modern Monetary Theory (MMT) offers a radical framework for which to reconceptualize government debt and spending and paves the way for a more just and prosperous society. In this engaging and accessible talk based on her bestselling book "The Deficit Myth," Professor Stephanie Kelton debunks the myths and misunderstandings that prevent us from taking the necessary action to fix big issues because we can't get beyond the question of how to pay for it.
Taxing Dilemmas: The Macro Policy Outlook through an MMT Lens
The federal government responded to the COVID-19 pandemic with little concern over the budgetary effects of its fiscal interventions, prompting many to proclaim that a real-world ’test’ of Modern Monetary Theory (MMT) was underway. A rapid economic recovery ensued, but the outbreak in inflation and a renewed battle over raising the debt limit have policymakers searching for ways to balance the federal budget. Will raising taxes on high-income earners and/or cutting programs like Social Security and Medicare work to bring down inflation and shrink the deficit? In this high-energy talk, Kelton assesses the logic of fiscal consolidation and what it could mean for future generations of investors and taxpayers.
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