Stephanie Kelton

Author, "The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy" | Professor of Economics and Public Policy, Stony Brook University

Economics

US Economy

Barron's list of 100 Most Influential Women in U.S. Finance for 2021

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2019 #2 on Bloomberg 50

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Stephanie Kelton is a leading authority on "Modern Monetary Theory", a new approach to economics that is taking the world by storm. She is one of the most important economists influencing the policy debate today. Her new book, The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy, shows how to break free of the myths and misunderstandings about money and the role of taxes, debt and deficits that have hamstrung policymakers around the world.

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She is a regular contributor at Bloomberg Opinion, and she has written for the New York Times, The Los Angeles Times, U.S. News & World Reports, CNN, and others.

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Stephanie has worked in both academia and politics. She served as chief economist on the U.S. Senate Budget Committee (Democratic staff) in 2015 and as a senior economic adviser to Bernie Sanders’s 2016 presidential campaign.

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Professor Kelton is Professor of Economics and Public Policy at Stony Brook University. She was previously Chair of the Department and Professor of Economics at the University of Missouri, Kansas City.

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Credentials

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Professor of Economics and Public Policy at Stony Brook University
100 Most Influential Women in U.S. Finance, Barron's, 2020 and 2021
#2 on the 2019 Bloomberg 50
Former Chief Economist, U.S. Senate Budget Committee (Democratic staff)
Senior Economic Advisor, Bernie 2016 presidential campaign
Former Professor of Economics, University of Missouri-Kansas City
Member, National Academy of Social Insurance
Geoff Harcourt Visiting Professor, University of Adelaide, 2019
Distinguished Alumni Award, New School for Social Research, 2018
Visiting Professor, University of Ljubljana, 2017-present
POLITICO’s 50 Most Influential Thinkers, 2016
TopWonks network of the nation’s best thinkers
PhD, New School for Social Research

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Topics

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.

Videos