The Deficit Myth

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

Stephanie Kelton

Recommended By

Book Synopsis

"The Deficit Myth" by Stephanie Kelton challenges conventional economic wisdom and debunks common myths surrounding government deficits. Kelton argues that deficits are not necessarily harmful and can be used to create a prosperous and equitable society. Through meticulous research and compelling analysis, she explains how our understanding of deficits has been shaped by flawed thinking and why it's crucial to redefine our perceptions.

Kelton dismantles the assumption that deficits lead to inflationary pressures, explaining that inflation is driven by real resource constraints rather than monetary factors. Drawing from historical examples and current data, she demonstrates that governments can responsibly finance deficits without causing harmful consequences to the economy.

By debunking myths about the negative impact of deficits and reframing our understanding of government spending, Kelton makes a powerful case for utilizing deficits as a tool for public purpose. She emphasizes the importance of prioritizing investments in areas like healthcare, education, and infrastructure, as well as tackling pressing issues such as climate change and income inequality.

"The Deficit Myth" provides a fresh perspective on fiscal policy, clarifying the potential of deficits as a force for positive change. Kelton's insightful work challenges readers to question long-held beliefs and consider alternative approaches to economic management. With its accessible language and persuasive arguments, this book is an essential read for anyone interested in understanding and challenging prevailing economic orthodoxy.

Explore More Books

See All
Natural Capitalism
The Uterus Is a Feature, Not a Bug
The Story of Civilization: The Age of Louis XIV
Self Reliance
The Hard Thing About Hard Things
Altars of Unhewn Stone
The Varieties of Religious Experience
Accidental Presidents
The Science of Conjecture
The Gifts of Imperfection
One of a Kind
Am I Being Too Subtle?
Hell Yeah or No
The Wealth of Nations
Benjamin Franklin
The Power of Full Engagement
Anthropic Bias
Old Man and the Sea
The Tao of Charlie Munger
Good Economics For Hard Times
Team of Teams
The Venture Mindset
When Money Dies
Now, Discover Your Strengths
Modelling Extremal Events
Changes in the Land
Tuxedo Park
Profile of a Nation
The Golden Compass
The Last Lion
Survival to Thrival
Benjamin Franklin
Competition Demystified
The Botany of Desire
Bad Blood
An Astronaut's Guide to Life on Earth
Innovating Out of Crisis
The Reluctant Mr. Darwin
The First Conspiracy
Founders at Work
The Power of Myth
Monetizing Innovation
The Aspirational Investor
Nixon Agonistes
Strength In Stillness
How to Read a Book
The Neverending Story
A Guide To Econometrics
To Dare and to Conquer
Follow The Money
Homo Deus
A Guide To The Good Life
The Snow Leopard
A Practical Guide for Policy Analysis
Screw Business As Usual
The Art of War
The Three Marriages
Intellectual Life in the Middle Ages
More From Less
The River of Doubt
The Start-up of You
The Body Keeps The Score
A Year with Rumi
Keeping At It
Getting to Maybe
Speak Like Churchill, Stand Like Lincoln
Zorba the Greek
Ghost Fleet
King of Capital
Models. Behaving. Badly.
Nothing To Lose
No Applause - Just Throw Money
Something Deeply Hidden
The Hate U Give
Who Really Matters
Who's In Charge
The Great Rupture
The Role of the Individual in History
The Book of Nothing
High Growth Handbook
The Old Way
The Agile Gene
Mathematician's Delight
The Feynman Lectures on Physics
The Score Takes Care of Itself
7 Powers
The Law
The Lord of the Rings
The Dip
The Wealth and Poverty of Nations
The Song Machine
Steal Like an Artist
Gang Leader for a Day
Out of Mao's Shadow
Mycelium Running