![]() ![]() government could finance any program it wishes to create. This idea of the federal government as a currency issuer instead of a currency user is central to Stephanie Kelton’s The Deficit Myth, in which she champions more aggressive deficit spending by arguing that the U.S. ![]() dollars, it can simply create them anytime it needs more dollars to pay for something. Because the government is the sole supplier of U.S. federal government as “needing” money to pay for its spending. Overview of the BookĪ leading proponent of the heterodox economic school of thought known as Modern Monetary Theory (MMT), Stephanie Kelton argues that it is incorrect to think of the U.S. In The Deficit Myth, economist Stephanie Kelton-a former Senate Budget Committee staffer and 2016 campaign adviser to Bernie Sanders-writes that nearly all of the public discourse about national debts and deficits gets the facts entirely wrong. Naturally, a controversial stance like this attracted a lot of criticism.Ĭontinue reading for a brief overview of The Deficit Myth. What is Stephanie Kelton’s The Deficit Myth about? How was the book received by critics? ![]() Like this article? Sign up for a free trial here. Shortform has the world's best summaries and analyses of books you should be reading. This article is an excerpt from the Shortform book guide to "The Deficit Myth" by Stephanie Kelton. ![]()
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