Finding The Money documentary screening Adelaide

An underdog group of economists is on a mission to instigate a paradigm shift by flipping our understanding of the national debt — and the nature of money — upside down. FINDING THE MONEY follows former chief economist to Senator Bernie Sanders, Stephanie Kelton, on a journey to unveil a deeper story about money, injecting new hope and empowering democracies around the world to tackle the biggest challenges of the 21st century: from climate change to inequality. Includes an in-person Q and A with Stephanie Kelton and Maren Poitras. Thursday 7th March, 7:00pm at the Capri Cinema
The following is a short excerpt from Steven Hail’s article in The Conversation: Explainer: what is Modern Monetary Theory?

MMT or Modern Monetary Theory is an approach to economic management developed since the 1990s by Professor Bill Mitchell, alongside American academics like Professor Randall Wray, Stephanie Kelton, and investment bankers and fund managers like Warren Mosler.

It builds on the ideas of a previous generation of economists, such as Hyman Minsky, Wynne Godley and Abba Lerner, whose interpretation of the work of the famous economist J.M.Keynes was very different from that which became dominant by the 1980s.

There are three core statements at the heart of modern monetary theory. 
1) Monetary sovereign governments face no purely financial budget constraints.
2) All economies, and all governments, face real and ecological limits relating to what can be produced and consumed.
3) The government’s financial deficit is everybody else’s financial surplus.

Download our MMT information sheet: read on screen or printable booklet

Professor Stephanie Kelton explains The Deficit Myth

Deficits do matter, but not the way we’ve been taught to believe. We’ve been told that China is our banker and that Social Security and Medicare are pushing us into crisis. We’re told the U.S. could end up like Greece and that deficits will burden future generations. These are all myths.

Deficits can be used for good or evil. They can enrich a small segment of the population, driving income and wealth inequality to new heights, while leaving millions behind. They can fund unjust wars that destabilise the world and cost millions their lives. Or they can be used to sustain life and build a more just economy that works for the many and not just the few.

Download the PowerPoint slides prepared for community talks on MMT and a Job Guarantee by Sustainable Prosperity Action Group founding member Tori Wade

2020 Harcourt Lecture