

#1895
Mentioned in 14 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 14 episodes
Mentioned by ![undefined]()

as a book pushing the modern monetary theory.

Bethany McLean

58 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"
Mencionado por ![undefined]()

al explicar que Kelton describe el mito del déficit.

Javier del Valle

La GUERRA por el CONTROL del SISTEMA FINANCIERO ya ha comenzado | Javier del Valle #98
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
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 

as the author's book.


Chris Hayes

Trump tariff pause sparks insider trading questions
Mentioned by 

as the author of "The Deficit Myth", highlighting her significant contribution to advancing the MMT message.


Joe Weisenthal

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
Empfohlen von 

als wichtige Vertretung der Modern Monetary Theory in den USA.


Holger Klein

066 – „Mythos Geldknappheit“ von Maurice Höfgen
Mentioned by 

as a book explaining that you can just print money forever.


Anthony Scaramucci

Inflation vs. Bitcoin: The Fight for Your Financial Future | James Lavish
Mentioned by ![undefined]()

when discussing her theory on massive debt creation.

Kristof K.P. Vanhoutte

PICT Voices #31: Wolfgang Streeck, The Economy of Buying Time