Anyone familiar with Australian political debate will know that while we can always afford tax cuts and defence spending, somehow we can never afford to raise Newstart, or to build social housing because we have to “live within our means” and get back to a budget surplus as soon as possible. But that's not how the economy really works. We talked to Professor Stephanie Kelton about her new book “The Deficit Myth: Modern Monetary Theory and How to Build a Better Economy” in conversation with our chief economist at the Australia institute Richard Denniss as part of our 'Economics of a Pandemic' webinar series.
Ebony Bennett, deputy director of the Australia Institute // @ebony_bennett
Richard Denniss, chief economist of the Australia Institute // @RDNS_TAI
Producer: Jennifer Macey
Theme music is by Jonathan McFeat from Pulse and Thrum