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The deficit myth: Modern Monetary Theory and the Birth of the People's Economy

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Pub. Date:
2020
Language:
English
Description
"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. We've been thinking about government spending in the wrong ways, Kelton argues, on both sides of the political aisle. 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. 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. Rather than asking the self-defeating question of how to pay for the crucial improvements our society needs, Kelton guides us to ask: which deficits actually matter? 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? With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT busts myths that prevent us from taking action because we can't get beyond the question of how to pay for it"--
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ISBN:
9781541736184
9781541797871
9781549160363
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Grouping Titledeficit myth modern monetary theory and the birth of the peoples economy
Grouping Authorstephanie kelton
Grouping Categorybook
Grouping LanguageEnglish (eng)
Last Grouping Update2022-05-18 02:08:20AM
Last Indexed2022-05-18 03:04:37AM
Novelist Primary ISBNnone

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display_description"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. We've been thinking about government spending in the wrong ways, Kelton argues, on both sides of the political aisle. 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. 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. Rather than asking the self-defeating question of how to pay for the crucial improvements our society needs, Kelton guides us to ask: which deficits actually matter? 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? With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT busts myths that prevent us from taking action because we can't get beyond the question of how to pay for it"--
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subject_facetBudget deficits -- United States
Debts, Public -- United States
Fiscal policy -- United States
Government spending policy -- United States
title_displayThe deficit myth : modern monetary theory and the birth of the people's economy
title_fullThe Deficit Myth Modern Monetary Theory and the Birth of the People's Economy
The deficit myth : modern monetary theory and the birth of the people's economy / Stephanie Kelton
title_shortThe deficit myth
title_subModern Monetary Theory and the Birth of the People's Economy
topic_facetBudget deficits
Business
Debts, Public
Fiscal policy
Government spending policy
Nonfiction
Politics