![]() ![]() ![]() ![]() Through illuminating insights about government debt, deficits, inflation, taxes, the financial system, and financial constraints on the federal budget, Kelton dramatically changes our understanding of how to best deal with important issues ranging from poverty and inequality to creating jobs and building infrastructure. In this book, the author explains the myths about budget deficits. Everything that both liberal/progressives and conservatives believe about deficits and the role of money and government spending in the economy is wrong, especially the fear that deficits will endanger long-term prosperity. Stephanie Kelton, The Deficit Myth: Modern Monetary Theory. ![]() We've been thinking about government spending in the wrong ways, Kelton argues, on both sides of the political aisle. Kelton’s book, The Deficit Myth, was published in June 2020 and shot onto best seller lists, inflation had been weak for decades and had dropped below 1 percent as consumers. Summary: "Any ambitious proposal - ranging from fixing crumbling infrastructure to Medicare for all or preventing the coming climate apocalypse - inevitably sparks questions: how can we afford it? How can we pay for it? Stephanie Kelton points out how misguided those questions really are by using the bold ideas of modern monetary theory (MMT), a fundamentally different approach to using our resources to maximize our potential as a society. ![]()
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