“Every time you pay a pound in taxes, then that pound is destroyed, it’s not part of the money supply anymore. Any time the government spends a pound, a pound is created, the money supply goes up – that’s absolutely true.” — Dr. Steven Hail

Hi, economics-curious friends, here’s episode 7 of The Modern Monetary Theory Podcast!

Me and my co-host Patricia Pino talk with economist and author of “Economics For Sustainable Prosperity” Dr. Steven Hail, about price shocks (which are often misunderstood as inflation) and the irrationality of orthodox economists. Hope you get time to listen!

http://pileusmmt.libsyn.com/7-steven-hail-inflation-price-shocks-and-other-misunderstandings

All episodes of The MMT Podcast are on iTunes/Spotify/Overcast. If you want to demystify economics for yourself, subscribe and let us help. New episodes always on the way!

https://itunes.apple.com/gb/podcast/the-pileus-hosts-the-mmt-podcast/id1375093518?mt=2