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The deficit myth : modern monetary theory and the birth of the people's economy

Author: Stephanie Kelton
Publisher: New York : PublicAffairs, [2020]
Edition/Format:   eBook : Document : English : First editionView all editions and formats
Summary:
"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  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Kelton, Stephanie, 1969-
Deficit myth.
New York : PublicAffairs, [2020]
(DLC) 2019059417
(OCoLC)1149204543
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Stephanie Kelton
ISBN: 9781541736207 1541736206
OCLC Number: 1157316601
Description: 1 online resource (vii, 325 pages) : illustrations
Contents: 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.
Responsibility: Stephanie Kelton.

Abstract:

"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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