The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy

· Sold by PublicAffairs
3.9
11 reviews
Ebook
336
Pages
Eligible

About this ebook

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 long-term growth, and that entitlements are propelling us toward a grave fiscal crisis.
MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

Ratings and reviews

3.9
11 reviews
IG Music
August 6, 2021
I think democrats should be required go read this more then republicans. We only have the highest rates of increase to inflation ever under biden. Not to mention the fact that he is devaluing the dollar with countless big spending packages. The dollar has dropped 3 cents in value since biden took office while Trump increased the value of the dollar by 8 cents in his four years. Infact the dollar actually doubled in value in 2016 to 2020 than the whole value of it between 2000 and 2015.
Did you find this helpful?
Charlene K
December 12, 2021
Essential reading to understand federal finance. "How are you going to pay for that" is just theater and scaremongering.
Did you find this helpful?
John Boyd
January 5, 2021
Should be required reading for every US citizen. ESPECIALLY REPUBLICANS.
1 person found this review helpful
Did you find this helpful?

About the author

Stephanie Kelton, professor of economics and public policy at the State University of New York at Stony Brook and Bloomberg contributing columnist, has been called a "prophetic economist" and a "rock star" of progressive economics. She is the founder and of the top-rated economic blog New Economic Perspectives, and a member of the TopWonks network of the nation's best thinkers. In 2016, Politico recognized her as one of the fifty people across the country most influencing the political debate. Kelton was chief economist on the U.S. Senate Budget Committee (minority staff) and an advisor to Bernie Sanders's 2016 and 2020 presidential campaigns. Kelton is a regular commentator on national radio and television and speaks across the world at large gatherings of people interested in global finance, political economy and public policy. She has superb connections in all areas of print and broadcast national media. Her op-eds have appeared in The New York Times, The Washington Post, The Los Angeles Times and Bloomberg.

Rate this ebook

Tell us what you think.

Reading information

Smartphones and tablets
Install the Google Play Books app for Android and iPad/iPhone. It syncs automatically with your account and allows you to read online or offline wherever you are.
Laptops and computers
You can listen to audiobooks purchased on Google Play using your computer's web browser.
eReaders and other devices
To read on e-ink devices like Kobo eReaders, you'll need to download a file and transfer it to your device. Follow the detailed Help Center instructions to transfer the files to supported eReaders.