Print More Money: Kelton to Present on Modern Monetary Theory – Hobart and William Smith Colleges \
The HWS Update

Print More Money: Kelton to Present on Modern Monetary Theory

Stephanie Kelton will speak on campus about the myth of deficits.  

Stephanie Kelton, a leading expert on modern monetary theory, a senior fellow at the Schwartz Center for Economic Policy Analysis, and an economics and public policy professor at Stony Brook University, will present on Friday, April 8 at 7:30 p.m. in Albright Auditorium.  

Regularly listed by POLITICO, Bloomberg and Prospect as among the world’s top thinkers and the most influential women in economics, Kelton is the author of the New York Times bestselling The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy, which disrupts long held perceptions about deficits and how they can be used to solve society’s problems. 

“Stephanie Kelton’s economic contribution is important and clarifying,” says William Waller, the chair of Hobart and William Smith’s economics department. “Employing modern monetary theory, which replaces the conventional wisdom about the nature of money with a clear-eyed analysis of what money is and how it is created, demystifies much of the silliness and reverence that the economic and business press creates regarding finance.”

Although often divisive, her theories have caught the attention of economists, politicians and journalists alike. Former U.S. Secretary of Labor Robert Reich refers to her as a “national treasure” while the Wall Street Journal calls her work “One of the most provocative new economic theories to come along.” Kelton served as chief economist on the Democratic staff of the U.S. Senate Budget Committee in 2015 and as a senior economic adviser to Bernie Sanders’ presidential campaigns in 2016 and 2020.  

“By focusing on how the federal government actually finances its expenditures, Kelton moves us away from the tendency to treat the federal government’s finances as if it was a household or businesses checkbook, thereby showing us that we have more options for addressing social and economic challanges than both our politicians and the public think we have,” explains Waller. “She presents a pragmatic, fact based approach to understanding the possibilities that are present to address the pressing economic issues of our day.”

In addition to her book and multiple academic publications, Kelton has contributed to Bloomberg Opinion, Financial Times, The New York Times, Los Angeles Times, U.S. News & World Report and CNN, and authors The Lens, a newsletter. She has held visiting professorships at The New School for Social Research, the University of Ljubljana and the University of Adelaide. POLITICO called her one of the 50 Most Influential Thinkers in 2016, Bloomberg listed her as one of the 50 people who defined 2019, Barron’s named her one of the 100 most influential women in finance in 2020, and Prospect listed her among the world’s top 50 thinkers in 2020. She was previously chair of the department of economics at the University of Missouri, Kansas City.

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