The Deficit Myth
Modern Monetary Theory and the Birth of the People's Economy
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Narrateur(s):
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Stephanie Kelton
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Auteur(s):
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Stephanie Kelton
À propos de cet audio
A “clear and vigorously written book” (Foreign Affairs), from the leading thinker of modern monetary theory, that delivers a bold new understanding for how to build a 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.
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Ce que les critiques en disent
—Frank Newman, former deputy secretary of the Treasury
—Spear's Magazine
—The American Prospect
I was first resistant to the notion that government deficits don’t really matter (given the government is the sole owner of the currency), and how deficit spending should be used to drive the economy. This is a really hot topic these days during the CV19 pandemic. It all makes a lot of sense, question then is; why don’t law makers adopt that approach?
Simple, as the author points out, government deficits are no fiscal problem, but a political tool both sides of the spectrum use to stoke fiscal fear and to garner for votes. It’s a powerful and effective tool, no wonder most politicians don’t want to surrender that.
Really should be a must read in high school and university courses.
Great read about government finances
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Brilliant
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Fantastic book - Recommend to Everyone
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Should be required reading
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Great addition to mental map
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