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The deficit myth : modern monetary theory and the birth of the people's economy / Stephanie Kelton.

by Kelton, Stephanie, 1969- author.

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New York, NY : PublicAffairs, 2020.

Debts, Public -- United States.

Budget deficits -- United States.

Government spending policy -- United States.

Fiscal policy -- United States.

9781541736184 (hardcover) :

1541736184 (hardcover) :

vii, 325 pages : illustrations ; 25 cm

Introduction: Bumper sticker shock -- Don't think of a household -- Think of inflation -- The national debt (That isn't) -- Their red ink is our black ink -- "Winning" at trade -- You're entitled! -- The deficits that matter -- Building an economy for the people.

We've been thinking about government spending in the wrong ways, Kelton argues, on both sides of the political aisle. Everything we 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. Kelton uses the bold ideas of modern monetary theory (MMT), a fundamentally different approach to using our resources to maximize our potential as a society. Rather than asking the self-defeating question of how to pay for the crucial improvements our society needs, Kelton guides us to ask: What is the best way to balance the risk of inflation against the benefits of a society that is more broadly prosperous, safer, cleaner, and secure? -- adapted from publisher info

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