Thread by @ButterNOGuns

1. First paragraph from Google translate
For decades, the United States has been valid for the neoliberal economy. "An individual is responsible for his destiny," a message that is still heard on the other side of the Atlantic Ocean. But things are beginning to change from the

2. other side of the "bare" to the political and economic markets in the country, so the ideas that the "left" or even "socialist" epithets on the Old Continent can get are heard more and more in the public space of the most powerful country world.

3. One of the protagonists of the idea of a different, humane society is Stephanie Kelton, an economist and a Democrat, whose opus is increasingly in the focus of the American media. And while Kelton has largely mocked the public in the past, today's ideas are very much

4. considered, the US media estimates. And its time for American terms can even be said to be radical. And this is irrespective of what comes from the ranks of the Democratic Party, which has so far been more prone to state intervention in the economy and society than its rivals

5. in the Republican Party.

6. What, then, are the ideas that the 48-year-old economist is ever more successful in pushing into the American public? First of all, it is a proposal to create a federal program that would guarantee every American a "decent" job. Of course, every citizen who wants to work.

7. In other words, instead of being an individual responsible for their jobs, this responsibility, in one way or another, will be assumed by the state.

8. Modern Monetary Theory
This brings us to the other difference of her propositions in relation to the American (and not just the American) mainstream. It is a "modern monetary theory", whose Kelton advocate, who, in a simplified statement, says the obsession with the money

9. the economist has shifted from dealing with real things affecting the economic health of the nation, such as natural resources, technology and labor. The money is explained by the advocates of this school, the only tool with which governments need to manage the resources

10. mentioned and address social problems, which in the modern world are all the more. In other words, money is not and must not be for itself purpose.

11. And Kelton herself often mentions a "financial community" in her speeches, almost as if she speaks of a special caste that cares only about herself & her interests, while the interests of society put another plan. In this regard, they note in Huffington Post, ---> next

12. it is worth pointing out that even democrats today reject the deregulation of the banking system, which was carried out by the administration of former President Bill Clinton, calling it "a mistake."

13. Debt is not important
The third feature of the ideas that Kelton represents is the budget deficit. It is not important for her, just like public debt, since the deficit and the public debt can be realized by others, for society, as she says, much more important goals.

14. - The basic idea is that the government can not remain without money. Government creates money through spending - a message repeated by Kelton.

15. But the problem is that such an approach to public policy can easily end by strengthening inflation. Nobody wants that. Still, Kelton has an answer: the authorities have enough instruments to stop price scandals.

16. After all, satisfying the basic needs of people, such as workplace or social rights, has priority over other goals, even if they are linked to inflation. Or, as Kelton's associates say, it does not just talk about inflation, but about rights and justice.

17. How do Croatian economists look at Kelton's attitudes? Those with whom we talked, in short, see populism in them. Or, more precisely, the American version of populism.

18. Populist ideas
- Such attitudes are a bit strange to the US, let's just remember how ObamaCare passed. It is about populist ideas that appear everywhere in the world, and even the US is no exception.

19. Of course, the realization of such ideas is possible, but only in the short term. In the US, however, they know very well that increasing public spending, which would lead to this, means higher taxes and less prospects for economic growth in the future - estimates --> next

20. Zdeslav Santic, Macroeconomist of Splitska bank.

21. Precisely because of the deeply rooted neoliberal matrix of American society, experts believe that the greater danger of populism threatens Europe than the United States. Namely, in the Old Continent there are increasingly ideas that would lead to an increase in the budget ->

22. deficit and the public debt, which means slower economic growth and future development. That is, the repetition of the Greek scenario.

23. Although Kelton often invokes Franklin D. Roosevelt, a Democrat and President of the United States led by the twentieth century, whose work New Deal, a program inspired by the ideas of John Maynard Keynes, -->next

24. led the United States out of the then biggest economic crisis, domestic experts reject the link ideas with which Kelton & Keynes come out.
"It's populism before, but Keynes," says Šantić.
And Hrvoje Stojic, the macroeconomist of Addiko Bank, in the ideas advocated by Kelton,

25. first sees populism. Still, Stojic reminds that the United States already has a very large budget deficit, which is partly a consequence of the tax reform of current President Donald Trump, a Republican. END.

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