![]() ![]() El-Erian called The Deficit Myth “a ‘must-read’ that is sure to influence many aspects of policy making going forward.” But the text also has drawn plenty of detractors, including The Wall Street Journal, which termed it “magical thinking,” and the Cato Institute, which wrote that “it’s an attractive vision, but it doesn’t work. It’s an appealing theory, and Kelton makes a compelling case for it.įoreign Affairs said the book was “clear and vigorously written,” and The Guardian wrote of Kelton, “She has succeeded in instigating a round of heretical questioning, essential for a post-COVID-19 world, where the pantheon of economic gods will have to be reconfigured.” Economic adviser Mohamed A. ![]() In The Deficit Myth, she argues that federal governments need not balance their budgets if they spend beyond their means, central banks can simply print more money. Stephanie Kelton’s The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy provides an enjoyable and accessible (though often repetitive) condensation of the emergence of Modern Monetary Theory (MMT) over the last twenty years or so, and what it means for the Left’s version of economic populism. Deficit Myth Paperback Maby Stephanie Kelton (Author) 3,552 ratings See all formats and editions Kindle 12.99 Read with Our Free App Audiobook 0.00 Free with your Audible trial Hardcover 16.59 61 Used from 4.03 26 New from 9.98 Paperback 13.39 30 Used from 7.10 32 New from 8.08 1 Collectible from 39. Stephanie Kelton, a professor at Stony Brook University and former economist on the US Senate Budget Committee, has gained notoriety with her claim that deficits don’t matter. ![]()
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