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The Deficit Myth

Modern Monetary Theory and How to Build a Better Economy

Stephanie Kelton

$55

Hardback

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John Murray
09 July 2020
THE SUNDAY TIMES BESTSELLER 'The tools we desperately need to build a safe future for all. Read it' Naomi Klein 'This book is going to be influential' Financial Times 'A rock star in her field' The Times 'Convincingly overturns conventional wisdom' New York Times Supporting the economy, paying for healthcare, creating new jobs, preventing the a climate apocalypse - vital challenges which inevitably raise the question: how can we pay for it?

Stephanie Kelton shows how misguided this question really is by using the bold ideas of modern monetary theory (MMT), the radically different approach to using our resources to maximize our potential as a society. Everything that we've been led to believe about deficits and the role of money and government spending in the economy is wrong, especially the fear that deficits will endanger our long-term prosperity.

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?

Kelton is the leading thinker and most visible public advocate of MMT - the most important idea about economics in decades - and delivers a fundamentally different, bold, new understanding for how to build a just and prosperous society.

'Game-changing ... Read it!' Mariana Mazzucato 'Essential for a post-COVID-19 world' Guardian 'The best book on rethinking economics that anyone will find right now' Richard Murphy, Political Economist and author of The Joy of Tax '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
By:   Stephanie Kelton
Imprint:   John Murray
Country of Publication:   United Kingdom
Dimensions:   Height: 236mm,  Width: 162mm,  Spine: 34mm
Weight:   540g
ISBN:   9781529352528
ISBN 10:   1529352525
Pages:   336
Publication Date:   09 July 2020
Audience:   College/higher education ,  Professional and scholarly ,  Primary ,  Undergraduate
Format:   Hardback
Publisher's Status:   Active

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.

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

Kelton is a razor-sharp writer... smashing shibboleths of conventional economic wisdom. * The Irish Times * 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 * The best book on rethinking economics that anyone will find right now. * Richard Murphy * 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 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 Kelton is to modern monetary theory what Milton Friedman was to American conservatives for a half century - conversational, fierce, relentless. * Financial Times *


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