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Stephanie Kelton: The big myth of government deficits | TED
Government deficits have gotten a bad rap, says economist Stephanie Kelton. In this groundbreaking talk, she makes the case to stop looking at government spending as a path towards frightening piles of debt, but rather as a financial contribution to the things that matter -- like health care, education, infrastructure and beyond. "We have the resources we need to begin repairing our broken systems," Kelton says. "But we have to believe it's possible." Visit http://TED.com to get our entire library of TED Talks, transcripts, translations, personalized talk recommendations and more. The TED Talks channel features the best talks and performances from the TED Conference, where the world's leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design -- plus science, business, global issues, the arts and more. You're welcome to link to or embed these videos, forward them to others and share these ideas with people you know. Become a TED Member: http://ted.com/membership Follow TED on Twitter: http://twitter.com/TEDTalks Like TED on Facebook: http://facebook.com/TED Subscribe to our channel: http://youtube.com/TED TED's videos may be used for non-commercial purposes under a Creative Commons License, Attribution–Non Commercial–No Derivatives (or the CC BY – NC – ND 4.0 International) and in accordance with our TED Talks Usage Policy (https://www.ted.com/about/our-organization/our-policies-terms/ted-talks-usage-policy). For more information on using TED for commercial purposes (e.g. employee learning, in a film or online course), please submit a Media Request at https://media-requests.ted.com
William Rees - The Dangerous Disconnect Between Economics and Ecology
The world economy is depleting the earth's natural resources, and economists cling to models that make no reference whatsoever to the biophysical basis that underpins the economy. That's why ecological economics is needed, says William Rees in this INET interview. http://ineteconomics.org/video/interview/william-rees-dangerous-disconnect-between-economics-and-ecology
Money Creation and Sustainability
What is money, and where does it come from? What does the monetary system have to do with sustainability? In this lecture, I explain what money is, and how it is created and destroyed by commercial banks. I look at some of the criticisms of our current monetary system, and discuss possible alternatives, such as Sovereign Money Creation and a Sovereign Money System. Lastly, I explore the links between money creation and environmental sustainability, including the tough question of whether our current monetary system creates a dangerous growth imperative.
What Is Economics?
There are many different schools of thought in economics, and they sometimes have quite fierce disagreements over big ideas. In this lecture, I discuss how three schools of thought (neoclassical economics, environmental economics, and ecological economics) think about the environment and sustainability.
What Is Sustainability?
What is sustainability, and why is it such a contested topic? What does it mean for development to be sustainable? In this lecture, I explore the two main views on sustainability within economics: Weak Sustainability and Strong Sustainability. In doing so, I also cover the Five Capitals framework (natural capital, built capital, human capital, social capital, and financial capital).
Marginal Benefits and Marginal Costs
Economics is about choices, about trade-offs. In this lecture, I introduce three important concepts that underpin rational decision-making in neoclassical economics: opportunity costs, marginal benefits, and marginal costs. With these concepts, we can understand important ideas such as the Law of Diminishing Marginal Utility, the Law of Increasing Marginal Cost, and the concept of optimal scale (a.k.a. the “When to Stop” Rule).
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