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Stephanie Kelton

Leading Economist, Professor, and Commentator

Stephanie Kelton is a Professor of Public Policy and Economics at Stony Brook University, a Founding Fellow at the Sanders Institute, and Board Chair of Economists for Peace & Security. She is one of the 52 social insurance experts elected to Academy membership this year. Kelton is widely regarded as a key scholar and commentator on economic issues both in the United States and Europe.

“Stephanie Kelton’s academic and policy work have been focused on ways to better manage the economy in order to reduce poverty and income insecurity,” said Academy Member Dean Baker, the Co-Director of the Center for Economic and Policy Research. “She has a clear and longstanding commitment to protecting and extending the country's social insurance programs.”

Kelton’s primary research interests include Social Security, monetary operations, employment policy, and fiscal policy. She is a renowned proponent of the Modern Monetary Theory (MMT), which posits that the federal government cannot become insolvent with respect to obligations in its own currency. Kelton was recognized by POLITICO as one of the top 50 people nationwide who helped transform American politics in 2016.

Kelton’s professional work spans academia, government, and the media. She was a Professor of Economics at the University of Missouri-Kansas City. She also worked as a research scholar at the Levy Economics Institute and the UMKC Center for Full Employment and Price Stability. Kelton authored the book, The State, The Market and The Euro (2001), which predicted the Eurozone’s debt crisis. In 2015, Kelton served as Chief Economist on the U.S. Senate Budget Committee for minority staff. In 2016, Kelton was an economic advisor to the Bernie Sanders presidential campaign. Kelton is the Founder and former Editor-in-Chief of the New Economic Perspectives blog. She has appeared on television and radio and written many opinion pieces on economic issues.

Kelton received Bachelor’s degrees in Business Finance and in Economics at California State University, Sacramento. As a Rotary scholarship recipient, she had the opportunity to attend the University of Cambridge and pursue a Master’s degree in Economics. She also received a fellowship from Christ’s College, Cambridge to spend a year working at Bard College’s Levy Economics Institute. Kelton graduated with a Ph.D. in Economics from The New School and just received the 2018 Distinguished Alumni Award from The New School for Social Research.