Unprecedented government spending to address the Covid-19 pandemic has left many people asking: “Where exactly did Congress find all that money?”
Stephanie Kelton, an economics professor and political advisor, provocatively states that is the wrong question to ask a currency issuing government like the United States, she says, “finding the money is actually the easiest part!”
FINDING THE MONEY traces the rise of a controversial new theory dubbed ‘Modern Monetary Theory’, or MMT. It could either represent a paradigm shift in economics and politics, or remain the laughing stock of a respectable academic field. The ideas, originating from Wall Street trader Warren Mosler, strike at the core of mainstream thought and are met with derision by prominent figures from across the political spectrum. But according to Mosler, “once you see it the right way around, you can never go back to the old thinking”.
The story we tell about money matters. Could the debate as to what the US government can afford in 2021 trace back to the story we tell about the origin and nature of money?
We take a 5,000 year journey to find the nature of money itself. From clay tablets in ancient Mesopotamia, to tally sticks in medieval England, to paper in the US colonies, to virtual records on digital bank balance sheets today, animated historical interludes weave through the film propelling the modern timeline forward and providing clues. Is money a physical object that we have to go out and find? Or has money always been virtual?
Will an underdog group of economists make us rethink the very nature of money in time to understand what the US government can afford in the face of unparalleled crises?
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We would like to see this urgent and timely story enter the world as soon as possible, with a goal of release in late 2022, the only thing slowing us down is funding!
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