#1911
Mentioned in 13 episodes

The Deficit Myth

Modern Monetary Theory and the Birth of the People's Economy
Book • 2020
In this book, Stephanie Kelton challenges conventional economic wisdom by arguing that government deficits are not inherently bad and can actually strengthen economies.

She dispels six key myths about deficits, such as the idea that governments should budget like households, that deficits harm future generations, crowd out private investment, and undermine long-term growth.

Kelton explains that in a fiat currency system, governments are not constrained by the same budgetary rules as households or businesses.

Instead, the real constraints are the limits of real resources and the threat of inflation.

The book advocates for using MMT to address critical social issues like poverty, inequality, unemployment, healthcare, and climate change by shifting the focus from narrow budgetary questions to broader economic and social benefits.

Mentioned by

Mentioned in 13 episodes

Mentioned by
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Bethany McLean
as a book pushing the modern monetary theory.
67 snips
Can The Dollar Be Dethroned?, with Ken Rogoff
Mentioned by
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Barry Ritholtz
as a New York Times bestseller and discussed throughout the podcast.
41 snips
US Fiscal Policy and the 'Deficit Myth' with Stephanie Kelton
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Emma Vigeland
as an important book in the Obama era to undercut Republican claims.
35 snips
5/27/25: Trump Billionaires Trash Budget, Schulz Demands Dem Socialism, Trump Says Putin Went Crazy
Mentioned by Todd in a listener question as an interesting book to understand Modern Monetary Theory.
31 snips
Did NYC Vote for Socialism or Against the Establishment?
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Jon Stewart
as the author of "The Deficit Myth", offering a different perspective on government spending and deficits.
23 snips
Spilling Election Tea with London Mayor Sadiq Khan
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Christian Reilly
as the author of 'The Deficit Myth'.
16 snips
#197 The Problem With Wealth Taxes with Steven Hail (part 2)
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Fadhel Kaboub
as one of his mentors and friends.
14 snips
Decolonise to Decarbonise | Fadhel Kaboub
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Natasha Mitchell
as the author of the book and the subject of a new documentary film called "Finding the Money".
Are national deficits a myth? Stephanie Kelton explodes an economic holy cow
Mentioned by
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Stephanie Kelton
in the introduction.
TDS Time Machine | Money Talk - Conversations with Economists
Mentioned by
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Joe Weisenthal
as the author of 'The Deficit Myth'.
Stephanie Kelton On MMT and the Inflation We're Seeing Today
Mentioned by
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Sean Hayes
as a book discussing the myth of the deficit.
"Michael Lewis"
Recommended by
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Mariana Mazzucato
for its insights on economic constraints and the role of democracy in investment decisions.
"The world’s scariest economist” on coronavirus, innovation, and purpose
Mentioned by
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Katy Shields
as a book that talks about the deficit myth.
#198 How Captured Economics Stole Our Future & What To Do About It with Katy Shields
Mentioned by James Rickards as a book he read despite disagreeing with its content on MMT.
The Best of Hedgeye: The New Great Depression with Jim Rickards
Professor Kelton is the author of this book on Modern Monetary Theory.
Trump's budget bill and ballooning deficits
Empfohlen von
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Holger Klein
als wichtige Vertretung der Modern Monetary Theory in den USA.
066 – „Mythos Geldknappheit“ von Maurice Höfgen
Nils erwähnt das Buch als eine gute Einführung in die Modern Monetary Theory, obwohl er es selbst noch nicht gelesen hat.
032 - Schulden von David Graeber
Mentioned by
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Chris Hayes
as the author's book.
Trump tariff pause sparks insider trading questions
Mentioned by
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Michael Casey
as a book he is currently reading on modern monetary theory.
Why Bitcoin Now: Michael Casey and Niall Ferguson on How Bitcoin Fits in the History of Money - Ep.181
Recommended by
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Jim Rickards
to understand modern monetary theory.
Jim Rickards: Recession is Coming

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