The Deficit Myth

Modern Monetary Theory and the Birth of the People's Economy

paperback

ISBN:
978-1-5293-5253-5
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5 stars (3 reviews)

A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society.

Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country.

Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine …

4 editions

The myth of deficit

4 stars

Addresses many of the obvious nonsense regarding how people talk about government economies. It takes 2 seconds of honest thought to recognize taxes don't fund the government, they encourage behavior. And only 1 second to understand that the power to make money very simply means deficits are a fiction.

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