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	Podcast:		KPFA - Economic Update
	Episode:		Government Deficits; Why They Happen, Who Benefits From Them, and MMT
	Category:		News & Politics
	Duration:		00:29:58
	Publish Date:		2025-08-29 10:00:00
	Description:		Professor Wolff explains what deficits are and why the capitalist system enables and invites employers to cause them. He then proceeds to explain how deficits both solve specific problems of capitalism while also causing others. Over time, problems accumulate to undermine the credit of the US and bring economic crisis. Modern Monetary Theory (MMT) is shown to offer one way out of the crisis by changing how money is created. Economics Professor Richard D. Wolff and guests discuss the current state of the economy, locally and globally. The program explores alternative ways to organize, markets, and government policies. Click Here to listen to the current episode of Economic Update with Richard D. Wolff. The post Government Deficits; Why They Happen, Who Benefits From Them, and MMT appeared first on KPFA.
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