"The federal government doesn't borrow money in any meaningful sense -- it isn't 'debt' in the same way that I as an individual take on debt when I borrow from the bank," said Stephanie Kelton, professor of economics and public policy at Stony Brook University, and author of The Deficit Myth. "We think of debt as being inherently dangerous and something to be avoided but Modern Monetary Theory shows it differently." Today, the Australia Institute was joined by author, academic and economist Step
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