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. Host: Visit tai.org.au for our latest pandemic economic research and analysis // @theausinstituteHost: Ebony Bennett, deputy director of the Australia Institute // @ebony_bennettGuests: Stephanie Kelton, author of The Deficit Myth // @StephanieKeltonRichard Denniss, chief economist of the Australia Institute // @RDNS_TAIProducer: Jennifer MaceyTheme music is by Jonathan McFeat from Pulse and Thrum

<div>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. </div><div>Host: Visit <a href="https://nb.tai.org.au/pandemic_economics" target="_blank">tai.org.au</a> for our latest pandemic economic research and analysis // <a href="http://twitter.com/theausinstitute" target="_blank">@theausinstitute</a></div><div><b>Host:</b> Ebony Bennett, deputy director of the Australia Institute // <a href="http://twitter.com/ebony_bennett" target="_blank">@ebony_bennett</a></div><div><b>Guests: </b></div><div>Stephanie Kelton, author of The Deficit Myth // <a href="https://twitter.com/StephanieKelton" target="_blank">@StephanieKelton</a></div><div>Richard Denniss, chief economist of the Australia Institute // <a href="http://twitter.com/RDNS_TAI" target="_blank">@RDNS_TAI</a></div><div><b>Producer:</b> Jennifer Macey</div><div>Theme music is by Jonathan McFeat from Pulse and Thrum</div><div><br></div>

Economics and politics explained in plain English

<p>Economics and politics explained in plain English</p>

Follow The Money

Economics, politics and policy explained in plain English.

<p>Economics, politics and policy explained in plain English.</p>

Anyone familiar with Australian political debate will know that while we can always afford tax cuts and defence spending, somehow we...

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