'What Money Actually Is and How It Works: Through the Lens of Modern Money Theory'

Luzum to speak at Luther Emeriti Colloquium March 8

Modern Money Theory explains that dollar savings of the private sector and the foreign sector are equal to government deficits. Despite the pervasive thought that governments should run a budget like a household where surpluses equal success, Modern Money Theory attempts to show why that isn't the case. Lyle Luzum, Luther College class of 1970, will explain Modern Money Theory at 3 p.m. Thursday, March 8, in the Mott Room of Dahl Centennial Union as part of the Luther Emeriti Colloquium series.

The presentation "What Money Actually Is and How It Works: Through the Lens of Modern Money Theory" is open to the public with no charge for admission.

Luzum, who got his degree in political science from Luther, will speak on the misconceptions of how money works in the "real world" and why governments aren't able to operate on the theory of "saving for a rainy day" when households are also saving for the future.  

Following his graduation from Luther, Luzum went on to become a high school educator, farmer and later Director of Computer Information Systems at Northeast Iowa Community College in Calmar, Iowa. When he retired in 2010, he began small-scale organic farming, raising lambs. Luzum, his wife Susan and their daughter, Stephanie, donated their 170-acre family farm to the Sustainable Iowa Land Trust in 2017. It is the largest gift to SILT in its history. In his free time, Luzum explains Modern Money Theory to non-ecnomists and volunteers as a tax preparer for the AARP Tax-Aid program at the Decorah Public Library.

A national liberal arts college with an enrollment of 2,050, Luther offers an academic curriculum that leads to the Bachelor of Arts degree in more than 60 majors and pre-professional programs. For more information about Luther visit the college's website: http://www.luther.edu.