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The Deficit Myth Summary

Stephanie Kelton

The Deficit Myth

by Stephanie Kelton

The Deficit Myth

Stephanie Kelton

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A brilliant exploration of modern monetary theory and how we may be able to use it to build a fairer and more prosperous society.

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The Deficit Myth

by Stephanie Kelton

The Deficit Myth

Stephanie Kelton

Overview

The media and politicians warn of the growing national debt, as governments run themselves into the ground spending more than they receive in taxes. Austerity measures are seen as the only way towards responsible economic management. But what if traditional economic theories have got it all wrong?

American economist and academic Stephanie Kelton is the most visible public advocate of modern monetary theory, or MMT, a radical reinterpretation of macroeconomics. In this book, which serves as an MMT manifesto, Kelton challenges the view that deficits are harmful to the economy, and argues for a significant increase in public spending.

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"Copernicus and the scientists who followed him changed our understanding of the cosmos, showing that the earth revolves around the sun and not the other way around. A similar breakthrough is needed for how we understand the deficit and its relationship to the economy."

Stephanie Kelton

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The Deficit Myth

Stephanie Kelton

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