How Much Can Governments Really Spend?
The Trudeau Liberals’ July fiscal update put a cost to all the emergency COVID-19 aid: a gigantic deficit and a projection that the federal debt will top $1 trillion. Former parliamentary budget officer Kevin Page, said future generations will pay for this debt through a mix of higher debt interest payments or taxes; “less fiscal room to address the next pandemic crisis or climate change;” or “less generous government programs.” This is the conventional view of economists since the 1980s.
Stephanie Kelton’s new book ‘The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy’ argues that the public’s understanding of the economy has to change, that an improved understanding will help us distinguish artificial spending barriers from legitimate constraints.
Kelton is an economics professor and was advisor to the 2016 Bernie Sanders campaign. As Bernie Sanders says “Change never comes from the top down. It always comes from the bottom up.” Let’s discuss why we should be changing our expectations of how much Canada can spend.
Recommended reference book:
‘The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy’ by Stephanie Kelton, 2020.
Date and Time: Fridays, September 7 and 14 (2 weeks), 2-3 PM
Moderator: Pat Simke
Cost: $5
Maximum Attendees: 50
Booking: You can book a spot with a credit card payment on or after the enrolment day using the link that will be visible then. See Terms and Conditions. Please note, maximum of two spots per person per course. When the course is full, to go onto the waiting list, please send us an e-mail at [email protected]
Stephanie Kelton’s new book ‘The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy’ argues that the public’s understanding of the economy has to change, that an improved understanding will help us distinguish artificial spending barriers from legitimate constraints.
- Why don't debt and deficits matter right now?
- Why does inflation matter?
- What do taxes do for us?
- How could new government spending help our economy and society?
Kelton is an economics professor and was advisor to the 2016 Bernie Sanders campaign. As Bernie Sanders says “Change never comes from the top down. It always comes from the bottom up.” Let’s discuss why we should be changing our expectations of how much Canada can spend.
Recommended reference book:
‘The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy’ by Stephanie Kelton, 2020.
Date and Time: Fridays, September 7 and 14 (2 weeks), 2-3 PM
Moderator: Pat Simke
Cost: $5
Maximum Attendees: 50
Booking: You can book a spot with a credit card payment on or after the enrolment day using the link that will be visible then. See Terms and Conditions. Please note, maximum of two spots per person per course. When the course is full, to go onto the waiting list, please send us an e-mail at [email protected]