Stephanie Kelton: The Public Purse

Video Description

As part of the lecture series between UCL Institute for Innovation and Public Purpose (IIPP) and the British Library, Stephanie Kelton speaks on why a government budget should not be looked at in the same way as a household budget https://www.bl.uk/events/rethinking-public-value-and-public-purpose -- Sign up to our newsletter to hear about our upcoming events: http://bit.ly/iippnews UCL Institute for Innovation and Public Purpose The Bartlett Faculty of the Built Environment Website: https://ucl.ac.uk/iipp Twitter: https://twitter.com/iipp_ucl -- Drawing on her experience as the Chief Economist on the US Senate Budget Committee, Stephanie Kelton gives a beginner’s class on public deficits and what (almost) everyone is missing in the debate over the government’s budget. Is the government’s budget really just like a family budget? (Teaser: It’s not!) What is the purpose of budgeting anyway? Is it to balance spending and revenue, or is targeting a balanced budget the wrong goal altogether? Is the British government living beyond its means? Stephanie outlines a new way of understanding deficits, debt, taxes, the relationship between the public and private sectors, and what our economy could look like. Turning the public budget into a participatory, mission-oriented endeavor is critical to restructuring public services and public investment and building the kind of economy that will deliver a cleaner, safer, more secure future for all. Rethinking Public Value and Public Purpose in 21st Century Capitalism is a lecture series presented by UCL’s new Institute for Innovation and Public Purpose in collaboration with the British Library. https://www.bl.uk/events/rethinking-p... Featuring luminaries from the worlds of arts, economics, architecture and design and policymaking, it considers the role of the public sector in today’s capitalist world and asks what partnerships are needed to address societal and technological challenges? How can public spaces be designed to create more democratic participation and new forms of learning and exploration? Does public necessarily mean free? Can the digital revolution create a new type of public realm? Speakers include Richard Rogers, Stephanie Kelton, Jayati Ghosh, Lucy Musgrave and Mariana Mazzucato. The events are free but booking is required.