How the Economy Actually Works - Dr. Yeva Nersisyan, Franklin and Marshall - DS Pod 270

The DemystifySci Podcast

Dr. Yeva Nersisyan is a professor of economics at Franklin and Marshall College whose research focus includes Modern Monetary Theory, Post-Keynesianism, and the Institutionalist traditions. She has published widely on the subject of banking and financial instability, which is why we invited her on to talk about how the economy *actually* works. MMT theorists argue that Neo-classical economists have a deeply limited understanding of the economy, as demonstrated by the Fed’s recent inability to control inflation by adjusting interest rates - which is basically the only lever available to it. We discuss how it seems that no one who is sitting at the top of the economic pyramid seems to understand how to shift the course of the economy, how providing jobs is the key to stability, the emergence of modern economic policy in the post-war years, and much more. Sign up for our Patreon and get episodes early + join our weekly Patron Chat https://bit.ly/3lcAasB AND rock some Demystify Gear to spread the word: https://demystifysci.myspreadshop.com/ (00:00:00) Go! (00:06:41) What are the basic economic levers?

(00:13:14) Regulation comes either way

(00:20:29) Keynes says

(00:26:15) Money supply first

(00:34:26) What is money?

(00:43:29) FDIC - has it been tested?

(00:56:00) Industry & money

(01:07:08) Jobs needed v. jobs wanted

(01:13:20) Patreon Ask

(01:13:27) Revised MMT

(01:28:50) Government brain drain

(01:40:10) Extreme povery at home

(01:53:00) Economic policy starts post war

(02:04:26) Inflation v. employment

(02:19:40) Financialization v. humanization

(02:30:04) Today's democrazy

(02:40:03) Infrastructure vs. ATMs #sciencepodcast, #longformpodcast, #ModernMonetaryTheory, #EconomicsExplained, #PostKeynesian, #FinancialStability, #JobsFirst, #EconomicPolicy, #MoneySupply, #BankingInsights, #InflationDebate, #GovernmentSpending, #EconomicLevers, #FiscalPolicy, #MonetaryTheory, #EmploymentFocus, #EconomicInequality Check our short-films channel, @DemystifySci: https://www.youtube.com/c/DemystifyingScience AND our material science investigations of atomics, @MaterialAtomics https://www.youtube.com/@MaterialAtomics Join our mailing list https://bit.ly/3v3kz2S PODCAST INFO: Anastasia completed her PhD studying bioelectricity at Columbia University. When not talking to brilliant people or making movies, she spends her time painting, reading, and guiding backcountry excursions. Shilo also did his PhD at Columbia studying the elastic properties of molecular water. When he's not in the film studio, he's exploring sound in music. They are both freelance professors at various universities. - Blog: http://DemystifySci.com/blog - RSS: https://anchor.fm/s/2be66934/podcast/rss - Donate: https://bit.ly/3wkPqaD - Swag: https://bit.ly/2PXdC2y SOCIAL: - Discord: https://discord.gg/MJzKT8CQub - Facebook: https://www.facebook.com/groups/DemystifySci - Instagram: https://www.instagram.com/DemystifySci/ - Twitter: https://twitter.com/DemystifySci MUSIC: -Shilo Delay: https://g.co/kgs/oty671