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Nov 1, 2026 8:14 AM

$1.99 | The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy (eBook) by Stephanie Kelton

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Author: Stephanie Kelton
Publisher: PublicAffairs
Publication date: June 9, 2020
Print length: 382 pages

A New York Times Bestseller

A "clear and vigorously written book" (Foreign Affairs), from the leading thinker of modern monetary theory, that delivers a bold new understanding for how to build a prosperous society

Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country.

Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis.

MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

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About the Poster
Available Retailers:
Author: Stephanie Kelton
Publisher: PublicAffairs
Publication date: June 9, 2020
Print length: 382 pages

A New York Times Bestseller

A "clear and vigorously written book" (Foreign Affairs), from the leading thinker of modern monetary theory, that delivers a bold new understanding for how to build a prosperous society

Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country.

Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis.

MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

More eBooks Deals

Please report the deal if expired (click report -> expired)
My other deals

https://www.amazon.com/Deficit-My...dsrc=staff

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Nov 1, 2026 12:45 PM
1.2K Comments
Joined Aug 2016
vanbboyNov 1, 2026 12:45 PM
1.2K Comments
Worth reading if you want to know what MMTers think, but not something to take seriously.
1
Nov 1, 2026 3:43 PM
426 Comments
Joined Oct 2019
brad_headleyNov 1, 2026 3:43 PM
426 Comments
Released in June 2020, probably the peak level of political absurdity we will see this century
1
Nov 1, 2026 3:49 PM
1.1K Comments
Joined Mar 2012
jd2010Nov 1, 2026 3:49 PM
1.1K Comments
we dont need to tax, we will just make your dollars worth nothing, its not the same thing!
2
2
Nov 1, 2026 6:21 PM
36 Comments
Joined Sep 2018
CaishenNov 1, 2026 6:21 PM
36 Comments
Quote from vanbboy View quoted comment :
Worth reading if you want to know what MMTers think, but not something to take seriously.
I could never tell whether people actually took MMT seriously, or just cynically used it as a way to avoid fiscal responsibility. The worst part is that I can't figure out what would be worse: that people are that irrational or that irresponsible.
1
Nov 2, 2026 2:17 PM
30 Comments
Joined Jun 2018
FaithfulWinter176Nov 2, 2026 2:17 PM
30 Comments
Written by Bernie Sanders' economic policy advisor, while accessible and partially correct in its description of MMT, it ignores the consequences of the detachment of fiscal spending controls that would be necessary to corral inflation. In other words, politicians care only about their own liberal spending projects and government expansion and would fail to recognize the needed capacity for the increased supply of goods and services that the spending creates. The author also quotes famous economists out of context, most of whom recognize that it's possible that the government CAN create money through borrowing, but then ignores their broader discussion of why and how this leads to inflation, etc. Buy it if you want a lopsided view of how politicians who seek out economists in favor of MMT can manipulate and justify economic theory in their favor
Nov 3, 2026 12:40 AM
89 Comments
Joined Nov 2013
AdamA3499Nov 3, 2026 12:40 AM
89 Comments
Quote from brad_headley View quoted comment :
Released in June 2020, probably the peak level of political absurdity we will see this century
Lol... it has only just begun my friend
1
Nov 3, 2026 9:37 PM
203 Comments
Joined Dec 2011
wysiwyg1652Nov 3, 2026 9:37 PM
203 Comments
Quote from FaithfulWinter176 View quoted comment :
Written by Bernie Sanders' economic policy advisor, while accessible and partially correct in its description of MMT, it ignores the consequences of the detachment of fiscal spending controls that would be necessary to corral inflation. In other words, politicians care only about their own liberal spending projects and government expansion and would fail to recognize the needed capacity for the increased supply of goods and services that the spending creates. The author also quotes famous economists out of context, most of whom recognize that it's possible that the government CAN create money through borrowing, but then ignores their broader discussion of why and how this leads to inflation, etc. Buy it if you want a lopsided view of how politicians who seek out economists in favor of MMT can manipulate and justify economic theory in their favor
No one has won a Nobel Prize for MMT that I am aware of. It's not just "liberal spending" that has created the $40 trillion of public debt though.

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