The Deficit Myth: Modern Monetary Theory and How to Build a Better Economy

Description

THE INTERNATIONAL BESTSELLER 'Kelton 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' Guardian 'Stephanie Kelton is an indispensable source of moral clarity ... the truths that she teaches about money, debt, and deficits give us the tools we desperately need to build a safe future for all' Naomi Klein 'Game-changing ... Read it!' Mariana Mazzucato 'A rock star in her field' The Times 'This book is going to be influential' Financial Times 'Convincingly overturns conventional wisdom' New York Times Supporting the economy, paying for healthcare, creating new jobs, preventing a climate apocalypse: how can we pay for it all? Leading economic thinker Stephanie Kelton, shows how misguided that question is, and how a radical new approach can maximise our potential as a society. Everything that we've been led to believe about deficits and the role of money and government spending is wrong. 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?

Stephanie Kelton, professor of economics and public policy at the State University of New York at Stony Brook and Bloomberg contributing columnist, has been called a "prophetic economist" and a "Rock Star" of progressive economics. Stephanie is the founder and of the top-rated economic blog New Economic Perspectives, and a member of the TopWonks network of the nation's best thinkers. In 2016, Politico recognized her as one of the fifty people across the country most influencing the political debate. Kelton was chief economist on the U.S. Senate Budget Committee (minority staff) and an advisor to the Bernie2016 presidential campaign. Kelton is a regular commentator on national radio and television and speaks across the world at large gatherings of people interested in global finance, political economy and public policy. She has superb connections in all areas of print and broadcast national media. Her op-eds have appeared in The New York Times, The Washington Post, The Los Angeles Times and Bloomberg.

Kelton is to modern monetary theory what Milton Friedman was to American conservatives for a half century - conversational, fierce, relentless. * Financial Times * Kelton's game-changing book on the myths around government deficits is both theoretically rigorous and empirically entertaining. It reminds us that money is not limited, only our imagination of what to do with it. After you read it you will never think of the public purse as a household economy again. Read it! -- Mariana Mazzucato, author of The Value of Everything: Making and Taking in the Global Economy In a world of epic, overlapping crises, Stephanie Kelton is an indispensable source of moral clarity ... the truths that she teaches about money, debt, and deficits give us the tools we desperately need to build a safe future for all. Read it - then put it to use. -- Naomi Klein The best book on rethinking economics that anyone will find right now. * Richard Murphy * In the wake of the financial impact of the coronavirus, she's having a moment ... she's become a rock star in her field. -- Ben Hoyle * The Times * Kelton is a razor-sharp writer ... smashing shibboleths of conventional economic wisdom. * The Irish Times * This book is going to be influential. -- Martin Wolf * Financial Times * One of the most important and accessible books ever written about money * The National * Kelton's book achieves a revolution in political economy. * LSE Review of Books * A leading light in modern monetary theory. * Financial Times * [Kelton] 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. * The Guardian * Convincingly overturns the conventional wisdom that federal budget deficits are somehow bad * New York Times * The most talked about economics book of 2020 * Spears Magazine * A remarkable book both in content and timing. A 'must read' that is sure to influence many aspects of policymaking going forward -- Mohamed El-Erian, chief economic advisor at Allianz