The Deficit Myth by Stephanie Kelton
Modern Monetary Theory and the Birth of the People's Economy
The book challenges conventional views on government spending and deficits, arguing that countries with sovereign currencies, like the United States, are not constrained by revenue when it comes to funding public programs. It introduces Modern Monetary Theory (MMT), which posits that such governments can and should spend more freely to address issues like unemployment, healthcare, and infrastructure, without the fear of insolvency. The author contends that the real limitations are inflation and resource availability, not budget deficits, and advocates for a paradigm shift in economic policy to better serve public needs.
The 10487th greatest book of all time
- Published
- 2020
- Nationality
- American
- Length
- Medium
- Pages
- 300-400
- Original Language
- English
- Avg User Rating
-
(4.0)
- Alternate Titles
- None
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- Ezra Klein Show's Most Recommended Books (Ezra Klein Show)