#7637
Mentioned in 12 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 12 episodes
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 
Jon Stewart as the author of "The Deficit Myth", offering a different perspective on government spending and deficits.
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
Mentioned by 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
Recommended by 
Mariana Mazzucato for its insights on economic constraints and the role of democracy in investment decisions.
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 
Joe Weisenthal as the author of "The Deficit Myth", highlighting her significant contribution to advancing the MMT message.
Joe Weisenthal as the author of "The Deficit Myth", highlighting her significant contribution to advancing the MMT message.
Stephanie Kelton on How MMT Won the Fiscal Policy Debate
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
Professor Kelton is the author of this book on Modern Monetary Theory.
Trump's budget bill and ballooning deficits
