Yeva Nersisyan's guest appearances

Yeva Nersisyan

The MMT Podcast with Patricia Pino & Christian Reilly

Macro N Cheese

RABBITHOLE

Cory Doctorow

Steve Keen

Shappi Khorsandi

Bill Mitchell

Kevin Muir

Stephanie Kelton

John Morrison

Chris Williamson

Luke McGregor

Stephen Williams

Phil Armstrong

Neil Wilson

Richard Murphy

Scott Ferguson

Chris Cook

OwlTail

If you’ve recently chatted with a well-informed liberal – the kind who reads the NY Times or watches PBS NewsHour – you’ve heard encouraging things about the economy. You’ve heard that Biden’s doing a good job. Unemployment has gone down, wages have gone up. Why can’t you be happy about it all?To celebrate all this good news, we brought back our friend, Yeva Nersisyan, associate professor of economics at Franklin and Marshall College, research scholar at the Levy Institute, and frequent collaborator with MMT OG Randy Wray.Yes, unemployment rates are lower, but we know those numbers don’t tell the true story. Or have you already forgotten our episode with Pavlina, just two short weeks ago? Yes, wages have gone up. But so has inflation. And in the race between inflation and wages, inflation is winning. Speaking of which, our Macro N Cheese family knows that one thing worse than inflation is the Fed’s cure for it.In this episode, Steve and Yeva look at the disconnect between the ongoing immiseration of the working class and the rosy scenario painted by politicians, pundits, and economists. At least one of those groups should know better. They discuss the looming student debt crisis, and the effect of the Fed’s interest rate hikes on student loans.When discussing MMT-informed solutions, Yeva warns:“You have to be consistent — whether it's the Trump tax cuts, whether it's the social security question. And you have to consistently say: the question of taxes and government spending, it should not be about deficits, should not be about debt, it should be about: is this the right thing for the economy? Is this what the people want? Is this what the people need? That's what you need to start with. And just because you want to raise taxes on the wealthy, which I do too, but I don't want to tie it to things like social security, because I think that's just a losing argument, and that's just not true.”MMT points toward answers, if anyone is asking.Yeva Nersisyan is an associate professor of economics at Franklin and Marshall College in Lancaster, PA, and a research scholar at the Levy Economics Institute of Bard College.

If you’ve recently chatted with a well-informed liberal – the kind who reads the NY Times or watches PBS NewsHour – you’ve heard encouraging things about the economy. You’ve heard that Biden’s doing a good job. Unemployment has gone down, wages have gone up. Why can’t you be happy about it all?To celebrate all this good news, we brought back our friend, Yeva Nersisyan, associate professor of economics at Franklin and Marshall College, research scholar at the Levy Institute, and frequent collaborator with MMT OG Randy Wray. Yes, unemployment rates are lower, but we know those numbers don’t tell the true story. Or have you already forgotten our episode with Pavlina, just two short weeks ago? Yes, wages have gone up. But so has inflation. And in the race between inflation and wages, inflation is winning. Speaking of which, our Macro N Cheese family knows that one thing worse than inflation is the Fed’s cure for it. In this episode, Steve and Yeva look at the disconnect between the ongoing immiseration of the working class and the rosy scenario painted by politicians, pundits, and economists. At least one of those groups should know better. They discuss the looming student debt crisis, and the effect of the Fed’s interest rate hikes on student loans. When discussing MMT-informed solutions, Yeva warns: <blockquote>“You have to be consistent — whether it's the Trump tax cuts, whether it's the social security question. And you have to consistently say: the question of taxes and government spending, it should not be about deficits, should not be about debt, it should be about: is this the right thing for the economy? Is this what the people want? Is this what the people need? That's what you need to start with. And just because you want to raise taxes on the wealthy, which I do too, but I don't want to tie it to things like social security, because I think that's just a losing argument, and that's just not true.”</blockquote> MMT points toward answers, if anyone is asking. Yeva Nersisyan is an associate professor of economics at Franklin and Marshall College in Lancaster, PA, and a research scholar at the Levy Economics Institute of Bard College.

Setting the Bar Low with Yeva Nersisyan

Patricia &amp; Christian talk to Associate Professor of Economics at Franklin &amp; Marshall college Yeva Nersisyan about ensuring the sustainability of Social Security (state pensions) with this one not-so-weird trick that unmitigatedly works for all other types of government spending.   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”:  https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html   Free tickets for the launch of “Modern Monetary Theory - Key Insights, Leading Thinkers”, in London on 20th April: https://gimms.org.uk/event/book-launch/     For an intro to MMT: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318     All our episodes in chronological order: https://www.patreon.com/posts/43111643     Relevant to this episode: “Lowering inflation isn’t a job for a one-trick pony” by Yeva Nersisyan:  https://thehill.com/opinion/congress-blog/3839918-lowering-inflation-isnt-a-job-for-a-one-trick-pony/ “The collapse of SVB shows why monetary policy is the wrong tool to fight inflation” by Yeva Nersisyan &amp; L. Randall Wray:  https://thehill.com/opinion/congress-blog/3905479-the-collapse-of-svb-shows-why-monetary-policy-is-the-wrong-tool-to-fight-inflation/ For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to: Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318         Quick MMT reads: Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail’s quick MMT explainer:  https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”:  https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/ For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here:  http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf   Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye &amp; Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye &amp; Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation &amp; Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray &amp; Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?:  https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true       Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory:  https://www.patreon.com/posts/episode-148-why-73211346 Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/     MMT Events And Courses In 2023 More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: http://www.mmted.org/ Apply for Dr Dirk Ehnts’ Modern Monetary Theory and European Macroeconomics course at Maastricht University (July 31st - August 4th) here:  https://maastricht.dreamapply.com/courses/course/183-modern-monetary-theory-and-european-macroeconomics Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: https://modernmoneylab.org.au/       MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies:  https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies   MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship     A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel:  https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos   Show notes:  https://www.patreon.com/posts/80870597?pr=true

Patricia &amp; Christian talk to Associate Professor of Economics at Franklin &amp; Marshall college Yeva Nersisyan about ensuring the sustainability of Social Security (state pensions) with this one not-so-weird trick that unmitigatedly works for all other types of government spending. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: <a href="https://www.patreon.com/MMTpodcast" rel="nofollow" target="_blank">https://www.patreon.com/MMTpodcast</a> Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: <a href="https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html" rel="nofollow" target="_blank"> https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html</a> Free tickets for the launch of “Modern Monetary Theory - Key Insights, Leading Thinkers”, in London on 20th April: <a href="https://gimms.org.uk/event/book-launch/" rel="nofollow" target="_blank">https://gimms.org.uk/event/book-launch/</a> For an intro to MMT: Our first three episodes: <a href="https://www.patreon.com/posts/41742417" rel="nofollow" target="_blank">https://www.patreon.com/posts/41742417</a> Episode 126 - Dirk Ehnts: How Banks Create Money: <a href="https://www.patreon.com/posts/62603318" rel="nofollow" target="_blank">https://www.patreon.com/posts/62603318</a> All our episodes in chronological order: <a href="https://www.patreon.com/posts/43111643" rel="nofollow" target="_blank">https://www.patreon.com/posts/43111643</a> Relevant to this episode: “Lowering inflation isn’t a job for a one-trick pony” by Yeva Nersisyan: <a href="https://thehill.com/opinion/congress-blog/3839918-lowering-inflation-isnt-a-job-for-a-one-trick-pony/" rel="nofollow" target="_blank"> https://thehill.com/opinion/congress-blog/3839918-lowering-inflation-isnt-a-job-for-a-one-trick-pony/</a> “The collapse of SVB shows why monetary policy is the wrong tool to fight inflation” by Yeva Nersisyan &amp; L. Randall Wray: <a href="https://thehill.com/opinion/congress-blog/3905479-the-collapse-of-svb-shows-why-monetary-policy-is-the-wrong-tool-to-fight-inflation/" rel="nofollow" target="_blank"> https://thehill.com/opinion/congress-blog/3905479-the-collapse-of-svb-shows-why-monetary-policy-is-the-wrong-tool-to-fight-inflation/</a> For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to: Episode 43 - Sam Levey: Understanding Endogenous Money: <a href="https://www.patreon.com/posts/35073683" rel="nofollow" target="_blank">https://www.patreon.com/posts/35073683</a> Episode 126 - Dirk Ehnts: How Banks Create Money: <a href="https://www.patreon.com/posts/62603318" rel="nofollow" target="_blank">https://www.patreon.com/posts/62603318</a> Quick MMT reads: Warren’s Mosler’s MMT white paper: <a href="http://moslereconomics.com/mmt-white-paper/" rel="nofollow" target="_blank">http://moslereconomics.com/mmt-white-paper/</a> Steven Hail’s quick MMT explainer: <a href="https://theconversation.com/explainer-what-is-modern-monetary-theory-72095" rel="nofollow" target="_blank"> https://theconversation.com/explainer-what-is-modern-monetary-theory-72095</a> Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: <a href="https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/" rel="nofollow" target="_blank"> https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/</a> For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: <a href="http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf" rel="nofollow" target="_blank"> http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf</a> Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): <a href="https://www.patreon.com/posts/28004824" rel="nofollow" target="_blank">https://www.patreon.com/posts/28004824</a> Episode 126 - Dirk Ehnts: How Banks Create Money: <a href="https://www.patreon.com/posts/62603318" rel="nofollow" target="_blank">https://www.patreon.com/posts/62603318</a> Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: <a href="https://www.patreon.com/posts/41790887" rel="nofollow" target="_blank">https://www.patreon.com/posts/41790887</a> Episode 43 - Sam Levey: Understanding Endogenous Money: <a href="https://www.patreon.com/posts/35073683" rel="nofollow" target="_blank">https://www.patreon.com/posts/35073683</a> Episode 84 - Andrew Berkeley, Richard Tye &amp; Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): <a href="https://www.patreon.com/posts/46352183" rel="nofollow" target="_blank">https://www.patreon.com/posts/46352183</a> Episode 86 - Andrew Berkeley, Richard Tye &amp; Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): <a href="https://www.patreon.com/posts/46865929" rel="nofollow" target="_blank">https://www.patreon.com/posts/46865929</a> Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: <a href="https://www.patreon.com/posts/41780508" rel="nofollow" target="_blank">https://www.patreon.com/posts/41780508</a> Episode 65 - Phil Armstrong: Understanding Inflation: <a href="https://www.patreon.com/posts/40672678" rel="nofollow" target="_blank">https://www.patreon.com/posts/40672678</a> Episode 104 - John T Harvey: Inflation, Stagflation &amp; Healing The Nation: <a href="https://www.patreon.com/posts/52207835" rel="nofollow" target="_blank">https://www.patreon.com/posts/52207835</a> Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: <a href="https://www.patreon.com/posts/59856379" rel="nofollow" target="_blank">https://www.patreon.com/posts/59856379</a> Episode 128 - L. Randall Wray &amp; Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: <a href="https://www.patreon.com/posts/63776558" rel="nofollow" target="_blank">https://www.patreon.com/posts/63776558</a> More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):<a href="https://www.patreon.com/posts/29621245" rel="nofollow" target="_blank">https://www.patreon.com/posts/29621245</a> Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): <a href="https://www.patreon.com/posts/29829500" rel="nofollow" target="_blank">https://www.patreon.com/posts/29829500</a> Episode 143 - Paul Sheard: What Is Quantitative Easing?: <a href="https://www.patreon.com/posts/71589989?pr=true" rel="nofollow" target="_blank">https://www.patreon.com/posts/71589989?pr=true</a> Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: <a href="https://www.patreon.com/posts/episode-147-dirk-72906421" rel="nofollow" target="_blank"> https://www.patreon.com/posts/episode-147-dirk-72906421</a> Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: <a href="https://www.patreon.com/posts/71966513" rel="nofollow" target="_blank">https://www.patreon.com/posts/71966513</a> Episode 145 - John T Harvey: What Determines Currency Prices?: <a href="https://www.patreon.com/posts/72283811?pr=true" rel="nofollow" target="_blank">https://www.patreon.com/posts/72283811?pr=true</a> Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: <a href="https://www.patreon.com/posts/41742701" rel="nofollow" target="_blank">https://www.patreon.com/posts/41742701</a> Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: <a href="https://www.patreon.com/posts/36034543" rel="nofollow" target="_blank">https://www.patreon.com/posts/36034543</a> Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: <a href="https://www.patreon.com/posts/episode-148-why-73211346" rel="nofollow" target="_blank"> https://www.patreon.com/posts/episode-148-why-73211346</a> Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: <a href="https://pavlina-tcherneva.net/job-guarantee-faq/" rel="nofollow" target="_blank">https://pavlina-tcherneva.net/job-guarantee-faq/</a> MMT Events And Courses In 2023 More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: <a href="http://www.mmted.org/" rel="nofollow" target="_blank">http://www.mmted.org/</a> Apply for Dr Dirk Ehnts’ Modern Monetary Theory and European Macroeconomics course at Maastricht University (July 31st - August 4th) here: <a href="https://maastricht.dreamapply.com/courses/course/183-modern-monetary-theory-and-european-macroeconomics" rel="nofollow" target="_blank"> https://maastricht.dreamapply.com/courses/course/183-modern-monetary-theory-and-european-macroeconomics</a> Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: <a href="https://modernmoneylab.org.au/" rel="nofollow" target="_blank">https://modernmoneylab.org.au/</a> MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: <a href="https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies" rel="nofollow" target="_blank"> https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies</a> MMT scholarship compiled by New Economic Perspectives: <a href="http://neweconomicperspectives.org/mmt-scholarship" rel="nofollow" target="_blank">http://neweconomicperspectives.org/mmt-scholarship</a> A list of MMT-informed campaigns and organisations worldwide: <a href="https://www.patreon.com/posts/47900757" rel="nofollow" target="_blank">https://www.patreon.com/posts/47900757</a> We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: <a href="https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos" rel="nofollow" target="_blank"> https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos</a> Show notes: <a href="https://www.patreon.com/posts/80870597?pr=true" rel="nofollow" target="_blank"> https://www.patreon.com/posts/80870597?pr=true</a>

#164 Yeva Nersisyan: Saving Social Security From Its Saviours

Edited highlights of Professor Yeva Nersisyan’s presentation on financing the Green New Deal from this year’s Levy Economics Institute Summer Seminar.   Video of this event: https://youtu.be/6qZNN96Ggs8     Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   For an intro to MMT: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   All our episodes in chronological order: https://www.patreon.com/posts/43111643   Relevant to this presentation: “How to Pay for the Green New Deal” by L. Randall Wray &amp; Yeva Nersisyan: https://www.levyinstitute.org/pubs/wp_931.pdf Episode 128 - L. Randall Wray &amp; Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558 Episode 53 - L. Randall Wray: MMT And The Green New Deal: https://www.patreon.com/posts/37728507 Episode 32 - Sam Levey: How Uncle Sam Paid For World War II (part 1): https://www.patreon.com/posts/30005574 Episode 33 - Sam Levey: How Uncle Sam Paid For World War II (part 2): https://www.patreon.com/posts/30112818 Episode 76 - Sam Levey: MMT For Mainstream Economists And Mobilisation Theory (part 1): https://www.patreon.com/posts/43697752 Episode 77 - Sam Levey: MMT For Mainstream Economists And Mobilisation Theory (part 2): https://www.patreon.com/posts/43886189        Quick MMT reads: Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail’s quick MMT explainer:  https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”:  https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/   Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye &amp; Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye &amp; Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation &amp; Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray &amp; Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory:  https://www.patreon.com/posts/episode-148-why-73211346 Pavlina Tcherneva’s Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/       More about the 2nd African Economic and Monetary Sovereignty conference (25-28 October): https://mes-africa.org/about-event/   Details of Modern Money Lab’s online graduate and postgraduate courses in MMT: https://modernmoneylab.org.au/   Sign up for alerts from The Gower Initiative For Modern Money Studies about their forthcoming MMT book: https://gimms.org.uk/   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel:  https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos   Transcript for opening monologue: https://www.patreon.com/posts/73776088?pr=true   Show notes:  https://www.patreon.com/posts/73776144?pr=true

Edited highlights of Professor Yeva Nersisyan’s presentation on financing the Green New Deal from this year’s Levy Economics Institute Summer Seminar. Video of this event: <a href="https://youtu.be/6qZNN96Ggs8" rel="nofollow" target="_blank">https://youtu.be/6qZNN96Ggs8</a> Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: <a href="https://www.patreon.com/MMTpodcast" rel="nofollow" target="_blank">https://www.patreon.com/MMTpodcast</a> For an intro to MMT: Our first three episodes: <a href="https://www.patreon.com/posts/41742417" rel="nofollow" target="_blank">https://www.patreon.com/posts/41742417</a> Episode 126 - Dirk Ehnts: How Banks Create Money: <a href="https://www.patreon.com/posts/62603318" rel="nofollow" target="_blank">https://www.patreon.com/posts/62603318</a> All our episodes in chronological order: <a href="https://www.patreon.com/posts/43111643" rel="nofollow" target="_blank">https://www.patreon.com/posts/43111643</a> Relevant to this presentation: “How to Pay for the Green New Deal” by L. Randall Wray &amp; Yeva Nersisyan: <a href="https://www.levyinstitute.org/pubs/wp_931.pdf" rel="nofollow" target="_blank">https://www.levyinstitute.org/pubs/wp_931.pdf</a> Episode 128 - L. Randall Wray &amp; Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: <a href="https://www.patreon.com/posts/63776558" rel="nofollow" target="_blank">https://www.patreon.com/posts/63776558</a> Episode 53 - L. Randall Wray: MMT And The Green New Deal: <a href="https://www.patreon.com/posts/37728507" rel="nofollow" target="_blank">https://www.patreon.com/posts/37728507</a> Episode 32 - Sam Levey: How Uncle Sam Paid For World War II (part 1): <a href="https://www.patreon.com/posts/30005574" rel="nofollow" target="_blank">https://www.patreon.com/posts/30005574</a> Episode 33 - Sam Levey: How Uncle Sam Paid For World War II (part 2): <a href="https://www.patreon.com/posts/30112818" rel="nofollow" target="_blank">https://www.patreon.com/posts/30112818</a> Episode 76 - Sam Levey: MMT For Mainstream Economists And Mobilisation Theory (part 1): <a href="https://www.patreon.com/posts/43697752" rel="nofollow" target="_blank">https://www.patreon.com/posts/43697752</a> Episode 77 - Sam Levey: MMT For Mainstream Economists And Mobilisation Theory (part 2): <a href="https://www.patreon.com/posts/43886189" rel="nofollow" target="_blank">https://www.patreon.com/posts/43886189</a> Quick MMT reads: Warren’s Mosler’s MMT white paper: <a href="http://moslereconomics.com/mmt-white-paper/" rel="nofollow" target="_blank">http://moslereconomics.com/mmt-white-paper/</a> Steven Hail’s quick MMT explainer: <a href="https://theconversation.com/explainer-what-is-modern-monetary-theory-72095" rel="nofollow" target="_blank"> https://theconversation.com/explainer-what-is-modern-monetary-theory-72095</a> On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: <a href="https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/" rel="nofollow" target="_blank"> https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/</a> Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): <a href="https://www.patreon.com/posts/28004824" rel="nofollow" target="_blank">https://www.patreon.com/posts/28004824</a> Episode 126 - Dirk Ehnts: How Banks Create Money: <a href="https://www.patreon.com/posts/62603318" rel="nofollow" target="_blank">https://www.patreon.com/posts/62603318</a> Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: <a href="https://www.patreon.com/posts/41790887" rel="nofollow" target="_blank">https://www.patreon.com/posts/41790887</a> Episode 43 - Sam Levey: Understanding Endogenous Money: <a href="https://www.patreon.com/posts/35073683" rel="nofollow" target="_blank">https://www.patreon.com/posts/35073683</a> Episode 84 - Andrew Berkeley, Richard Tye &amp; Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): <a href="https://www.patreon.com/posts/46352183" rel="nofollow" target="_blank">https://www.patreon.com/posts/46352183</a> Episode 86 - Andrew Berkeley, Richard Tye &amp; Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): <a href="https://www.patreon.com/posts/46865929" rel="nofollow" target="_blank">https://www.patreon.com/posts/46865929</a> Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: <a href="https://www.patreon.com/posts/41780508" rel="nofollow" target="_blank">https://www.patreon.com/posts/41780508</a> Episode 65 - Phil Armstrong: Understanding Inflation: <a href="https://www.patreon.com/posts/40672678" rel="nofollow" target="_blank">https://www.patreon.com/posts/40672678</a> Episode 104 - John T Harvey: Inflation, Stagflation &amp; Healing The Nation: <a href="https://www.patreon.com/posts/52207835" rel="nofollow" target="_blank">https://www.patreon.com/posts/52207835</a> Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: <a href="https://www.patreon.com/posts/59856379" rel="nofollow" target="_blank">https://www.patreon.com/posts/59856379</a> Episode 128 - L. Randall Wray &amp; Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: <a href="https://www.patreon.com/posts/63776558" rel="nofollow" target="_blank">https://www.patreon.com/posts/63776558</a> Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: <a href="https://www.patreon.com/posts/41742701" rel="nofollow" target="_blank">https://www.patreon.com/posts/41742701</a> Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: <a href="https://www.patreon.com/posts/36034543" rel="nofollow" target="_blank">https://www.patreon.com/posts/36034543</a> Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: <a href="https://www.patreon.com/posts/episode-148-why-73211346" rel="nofollow" target="_blank"> https://www.patreon.com/posts/episode-148-why-73211346</a> Pavlina Tcherneva’s Job Guarantee FAQ page: <a href="https://pavlina-tcherneva.net/job-guarantee-faq/" rel="nofollow" target="_blank">https://pavlina-tcherneva.net/job-guarantee-faq/</a> More about the 2nd African Economic and Monetary Sovereignty conference (25-28 October): <a href="https://mes-africa.org/about-event/" rel="nofollow" target="_blank">https://mes-africa.org/about-event/</a> Details of Modern Money Lab’s online graduate and postgraduate courses in MMT: <a href="https://modernmoneylab.org.au/" rel="nofollow" target="_blank">https://modernmoneylab.org.au/</a> Sign up for alerts from The Gower Initiative For Modern Money Studies about their forthcoming MMT book: <a href="https://gimms.org.uk/" rel="nofollow" target="_blank">https://gimms.org.uk/</a> A list of MMT-informed campaigns and organisations worldwide: <a href="https://www.patreon.com/posts/47900757" rel="nofollow" target="_blank">https://www.patreon.com/posts/47900757</a> We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: <a href="https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos" rel="nofollow" target="_blank"> https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos</a> Transcript for opening monologue: <a href="https://www.patreon.com/posts/73776088?pr=true" rel="nofollow" target="_blank">https://www.patreon.com/posts/73776088?pr=true</a> Show notes: <a href="https://www.patreon.com/posts/73776144?pr=true" rel="nofollow" target="_blank"> https://www.patreon.com/posts/73776144?pr=true</a>

#150 Yeva Nersisyan: How To Pay For The Green New Deal

In today's episode, Pete and Sparky sit down with Yeva Nersisyan, a Research Scholar at the Global Institute for Sustainable Prosperity and an Associate Professor of economics at Franklin and Marshall College, to discuss an MMT-informed approach to making the Green New Deal a reality, and to go over some 'MMT 101'-related questions.Read Yeva Nersisyan and Randall Wray's policy brief "Can We Afford the Green New Deal?" at https://www.levyinstitute.org/publications/can-we-afford-the-green-new-dealThis episode was edited by Dan Thorn (@danieljtvthorn) of Pink Noise Studios in Somerville, MA, and it features theme music by Danny Bradley. If you liked the podcast, please consider supporting our investigations on our Patreon.Find Pete on Twitter at @PeteDDavis and Sparky at @sparkyabraham

In today's episode, Pete and Sparky sit down with Yeva Nersisyan, a Research Scholar at the Global Institute for Sustainable Prosperity and an Associate Professor of economics at Franklin and Marshall College, to discuss an MMT-informed approach to making the Green New Deal a reality, and to go over some 'MMT 101'-related questions. Read Yeva Nersisyan and Randall Wray's policy brief "Can We Afford the Green New Deal?" at <a href="https://www.levyinstitute.org/publications/can-we-afford-the-green-new-deal" rel="nofollow" target="_blank">https://www.levyinstitute.org/publications/can-we-afford-the-green-new-deal</a>This episode was edited by Dan Thorn (@danieljtvthorn) of Pink Noise Studios in Somerville, MA, and it features theme music by <a href="https://dannybradleymusic.com/" rel="nofollow" target="_blank">Danny Bradley</a>. If you liked the podcast, please consider supporting our investigations on <a href="https://www.patreon.com/rabbitholepodcast" rel="nofollow" target="_blank">our Patreon</a>.Find Pete on Twitter at @PeteDDavis and Sparky at @sparkyabraham

Is MMT Real? #16: Yeva Nersisyan

L. Randall Wray

Patricia and Christian talk to MMT economists L. Randall Wray and Yeva Nersisyan about their most recent paper, “What’s Causing Accelerating Inflation? Pandemic Or Policy Response?”   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   For an intro to MMT: Listen to our first three episodes: https://www.patreon.com/posts/41742417   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our episodes with L. Randall Wray: https://www.patreon.com/posts/44467066   “What’s Causing Accelerating Inflation: Pandemic or Policy Response?” by Yeva Nersisyan &amp; L. Randall Wray:  https://www.levyinstitute.org/publications/whats-causing-accelerating-inflation-pandemic-or-policy-response   “Still Flying Blind After All These Years: The Federal Reserve’s Continuing Experiments With Unobservables” by Dimitri B. Papadimitriou &amp; L. Randall Wray: https://www.levyinstitute.org/pubs/ppb_156.pdf   “How to Pay for the Green New Deal” by Yeva Nersisyan &amp; L. Randall Wray:  https://papers.ssrn.com/sol3/papers.cfm?abstract_id=339898     Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318     Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701   Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543     More on inflation:   Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation &amp; Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   More on the Levy Economics Institute of Bard College 2022 Summer Seminar:  https://www.levyinstitute.org/news/summer-seminar-2022   We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel:  https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos   Transcript for opening monologue: https://www.patreon.com/posts/63776575   Show notes: https://www.patreon.com/posts/63776558

Patricia and Christian talk to MMT economists L. Randall Wray and Yeva Nersisyan about their most recent paper, “What’s Causing Accelerating Inflation? Pandemic Or Policy Response?” Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: <a href="https://www.patreon.com/MMTpodcast" rel="nofollow" target="_blank">https://www.patreon.com/MMTpodcast</a> For an intro to MMT: Listen to our first three episodes: <a href="https://www.patreon.com/posts/41742417" rel="nofollow" target="_blank">https://www.patreon.com/posts/41742417</a> All our episodes in chronological order: <a href="https://www.patreon.com/posts/43111643" rel="nofollow" target="_blank">https://www.patreon.com/posts/43111643</a> All our episodes with L. Randall Wray: <a href="https://www.patreon.com/posts/44467066" rel="nofollow" target="_blank">https://www.patreon.com/posts/44467066</a> “What’s Causing Accelerating Inflation: Pandemic or Policy Response?” by Yeva Nersisyan &amp; L. Randall Wray: <a href="https://www.levyinstitute.org/publications/whats-causing-accelerating-inflation-pandemic-or-policy-response" rel="nofollow" target="_blank"> https://www.levyinstitute.org/publications/whats-causing-accelerating-inflation-pandemic-or-policy-response</a> “Still Flying Blind After All These Years: The Federal Reserve’s Continuing Experiments With Unobservables” by Dimitri B. Papadimitriou &amp; L. Randall Wray: <a href="https://www.levyinstitute.org/pubs/ppb_156.pdf" rel="nofollow" target="_blank">https://www.levyinstitute.org/pubs/ppb_156.pdf</a> “How to Pay for the Green New Deal” by Yeva Nersisyan &amp; L. Randall Wray: <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=339898" rel="nofollow" target="_blank"> https://papers.ssrn.com/sol3/papers.cfm?abstract_id=339898</a> Episode 126 - Dirk Ehnts: How Banks Create Money: <a href="https://www.patreon.com/posts/62603318" rel="nofollow" target="_blank">https://www.patreon.com/posts/62603318</a> Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: <a href="https://www.patreon.com/posts/41742701" rel="nofollow" target="_blank">https://www.patreon.com/posts/41742701</a> Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: <a href="https://www.patreon.com/posts/36034543" rel="nofollow" target="_blank">https://www.patreon.com/posts/36034543</a> More on inflation: Episode 65 - Phil Armstrong: Understanding Inflation: <a href="https://www.patreon.com/posts/40672678" rel="nofollow" target="_blank">https://www.patreon.com/posts/40672678</a> Episode 104 - John T Harvey: Inflation, Stagflation &amp; Healing The Nation: <a href="https://www.patreon.com/posts/52207835" rel="nofollow" target="_blank">https://www.patreon.com/posts/52207835</a> Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: <a href="https://www.patreon.com/posts/59856379" rel="nofollow" target="_blank">https://www.patreon.com/posts/59856379</a> A list of MMT-informed campaigns and organisations worldwide: <a href="https://www.patreon.com/posts/47900757" rel="nofollow" target="_blank">https://www.patreon.com/posts/47900757</a> More on the Levy Economics Institute of Bard College 2022 Summer Seminar: <a href="https://www.levyinstitute.org/news/summer-seminar-2022" rel="nofollow" target="_blank"> https://www.levyinstitute.org/news/summer-seminar-2022</a> We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: <a href="https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos" rel="nofollow" target="_blank"> https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos</a> Transcript for opening monologue: <a href="https://www.patreon.com/posts/63776575" rel="nofollow" target="_blank">https://www.patreon.com/posts/63776575</a> Show notes: <a href="https://www.patreon.com/posts/63776558" rel="nofollow" target="_blank">https://www.patreon.com/posts/63776558</a>

#128 L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?

**Every episode of Macro N Cheese has a full transcript and an “extras” page with links to additional resources. Find them at realprogressives.org/macro-n-cheese-podcast/Fadhel Kaboub introduces us to the best people, including Yeva Nersisyan, a Research Scholar at the Global Institute for Sustainable Prosperity who joined Steve to talk about a paper she recently co-authored with Randall Wray, "Are We All MMTers Now? Not So Fast."The COVID pandemic has put MMT in the news, with plenty of critics mistaking stimulus spending with “MMT policy.” This absurdity creates a convenient narrative for detractors: MMT is a failure!Our argument was that MMT-inspired fiscal policy is targeted fiscal spending and in particular spending on jobs. Job creation, the job guarantee that Pavlina Tcherneva has been talking a lot about... a jobs policy rather than just indiscriminate stimulus kind of policy.MMT economists were not at the table when COVID stimulus policy was being decided, nor were they at the table when Larry Summers and Jason Furman were crafting the inadequate response to the global financial crisis – another missed opportunity for fiscal policy to serve the public good.Yeva describes the different government responses to World Wars One and Two, compares Keynesian and MMT-prescribed policies, and lays out the consequences to the states – AKA the race to the bottom – when the federal government shirks its responsibilities.In the second half of the episode Steve brings up the roles of the Fed, Treasury, and private banks and asks Yeva to take us through their processes and explain reserve accounting. If you’re at all confused about this, you’ll want to hear what she says.Yeva Nersisyan is a Research Scholar at the Global Institute for Sustainable Prosperity and an Associate Professor of economics at Franklin and Marshall College. She received her B.A. in economics from Yerevan State University in Armenia, and her M.A. and Ph.D. in economics and mathematics from the University of Missouri-Kansas City. Her research interests include monetary theory, financial instability and regulation and macroeconomic policy. Yeva has published a number of papers on the topics of shadow banking, fiscal policy, government deficits and debt, financial fragility and instability, financial reform and retirement policy.

**Every episode of Macro N Cheese has a full transcript and an “extras” page with links to additional resources. Find them at <a href="https://realprogressives.org/macro-n-cheese-podcast" rel="noopener noreferrer nofollow" target="_blank">realprogressives.org/macro-n-cheese-podcast/</a>Fadhel Kaboub introduces us to the best people, including Yeva Nersisyan, a Research Scholar at the Global Institute for Sustainable Prosperity who joined Steve to talk about a paper she recently co-authored with Randall Wray, "Are We All MMTers Now? Not So Fast." The COVID pandemic has put MMT in the news, with plenty of critics mistaking stimulus spending with “MMT policy.” This absurdity creates a convenient narrative for detractors: MMT is a failure! <blockquote>Our argument was that MMT-inspired fiscal policy is targeted fiscal spending and in particular spending on jobs. Job creation, the job guarantee that Pavlina Tcherneva has been talking a lot about... a jobs policy rather than just indiscriminate stimulus kind of policy.</blockquote> MMT economists were not at the table when COVID stimulus policy was being decided, nor were they at the table when Larry Summers and Jason Furman were crafting the inadequate response to the global financial crisis – another missed opportunity for fiscal policy to serve the public good. Yeva describes the different government responses to World Wars One and Two, compares Keynesian and MMT-prescribed policies, and lays out the consequences to the states – AKA the race to the bottom – when the federal government shirks its responsibilities. In the second half of the episode Steve brings up the roles of the Fed, Treasury, and private banks and asks Yeva to take us through their processes and explain reserve accounting. If you’re at all confused about this, you’ll want to hear what she says. Yeva Nersisyan is a Research Scholar at the Global Institute for Sustainable Prosperity and an Associate Professor of economics at Franklin and Marshall College. She received her B.A. in economics from Yerevan State University in Armenia, and her M.A. and Ph.D. in economics and mathematics from the University of Missouri-Kansas City. Her research interests include monetary theory, financial instability and regulation and macroeconomic policy. Yeva has published a number of papers on the topics of shadow banking, fiscal policy, government deficits and debt, financial fragility and instability, financial reform and retirement policy.