

#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.
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 ![undefined]()

as a book pushing the modern monetary theory.

Bethany McLean

67 snips
Can The Dollar Be Dethroned?, with Ken Rogoff
Mentioned by 

as a New York Times bestseller and discussed throughout the podcast.


Barry Ritholtz

41 snips
US Fiscal Policy and the 'Deficit Myth' with Stephanie Kelton
Mentioned by ![undefined]()

as an important book in the Obama era to undercut Republican claims.

Emma Vigeland

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?
Mentioned by 

as the author of "The Deficit Myth", offering a different perspective on government spending and deficits.


Jon Stewart

23 snips
Spilling Election Tea with London Mayor Sadiq Khan
Mentioned by ![undefined]()

as the author of 'The Deficit Myth'.

Christian Reilly

16 snips
#197 The Problem With Wealth Taxes with Steven Hail (part 2)
Mentioned by ![undefined]()

as one of his mentors and friends.

Fadhel Kaboub

14 snips
Decolonise to Decarbonise | Fadhel Kaboub
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as the author of the book and the subject of a new documentary film called "Finding the Money".

Natasha Mitchell

Are national deficits a myth? Stephanie Kelton explodes an economic holy cow
Mentioned by ![undefined]()

in the introduction.

Stephanie Kelton

TDS Time Machine | Money Talk - Conversations with Economists
Mentioned by 

as the author of 'The Deficit Myth'.


Joe Weisenthal

Stephanie Kelton On MMT and the Inflation We're Seeing Today
Mentioned by ![undefined]()

as a book discussing the myth of the deficit.

Sean Hayes

"Michael Lewis"
Recommended by 

for its insights on economic constraints and the role of democracy in investment decisions.


Mariana Mazzucato

"The world’s scariest economist” on coronavirus, innovation, and purpose
Mentioned by ![undefined]()

as a book that talks about the deficit myth.

Katy Shields

#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 

als wichtige Vertretung der Modern Monetary Theory in den USA.


Holger Klein

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 

as the author's book.


Chris Hayes

Trump tariff pause sparks insider trading questions
Mentioned by ![undefined]()

as a book he is currently reading on modern monetary theory.

Michael Casey

Why Bitcoin Now: Michael Casey and Niall Ferguson on How Bitcoin Fits in the History of Money - Ep.181
Recommended by 

to understand modern monetary theory.


Jim Rickards

Jim Rickards: Recession is Coming