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Item specifics

Condition
Good: A book that has been read but is in good condition. Very minimal damage to the cover including ...
Brand
Unbranded
MPN
Does not apply
ISBN
9781541736184
Book Title
Deficit Myth : Modern Monetary Theory and the Birth of the People's Economy
Item Length
9.7in
Publisher
Public Affairs
Publication Year
2020
Format
Hardcover
Language
English
Item Height
1.3in
Author
Stephanie Kelton
Genre
Business & Economics, Political Science
Topic
Public Finance, Economic Conditions, Public Policy / Economic Policy, Economics / Theory
Item Width
6.6in
Item Weight
19.2 Oz
Number of Pages
336 Pages

About this product

Product Information

A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and 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.

Product Identifiers

Publisher
Public Affairs
ISBN-10
1541736184
ISBN-13
9781541736184
eBay Product ID (ePID)
13038430918

Product Key Features

Book Title
Deficit Myth : Modern Monetary Theory and the Birth of the People's Economy
Author
Stephanie Kelton
Format
Hardcover
Language
English
Topic
Public Finance, Economic Conditions, Public Policy / Economic Policy, Economics / Theory
Publication Year
2020
Genre
Business & Economics, Political Science
Number of Pages
336 Pages

Dimensions

Item Length
9.7in
Item Height
1.3in
Item Width
6.6in
Item Weight
19.2 Oz

Additional Product Features

Lc Classification Number
Hj8119.K46 2020
Reviews
"Clear! Compelling! Eye-opening and persuasive, The Deficit Myth is an adventure in the world of budgets, jobs, trade, banking and--above all--of money. With the great force of common sense, Stephanie Kelton and the MMT team have broken through the closed circles of so-called sound finance, a stale orthodoxy that has weakened and impoverished us all. This book shows how they did it, and it blazes a path forward, toward a better world built on better ideas."-- James K. Galbraith, The University of Texas at Austin, "Kelton writes clearly and directly, and does well to keep the lay reader in mind throughout. This comprehensive, lucid explanation of a much-buzzed about economic theory will resonate with progressives."-- Publishers Weekly, "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, " The Deficit Myth is simply the most important book I've ever read. Stephanie Kelton carefully articulates a message that obliterates economic orthodoxy about public finance, which assumes that taxes precede spending and deficits are bad. Kelton's work is on a par with the genius of DaVinci and Copernicus, heretics who proved that Earth revolves around the sun."-- David Cay Johnston, recipient of the Pulitzer Prize, an Investigative Reporters and Editors Inc. Medal, and the George Polk Award, "She 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, "The big thing she gets right is in the way she structures her book around our current beliefs. In addressing our current understanding of how the world works - interpretations she identifies as myths - Kelton leads us step-by-step towards a new understanding of how federal spending works."-- Inside Higher Education, "Stephanie Kelton convincingly overturns the conventional wisdom that federal budget deficits are somehow bad for the nation. ...Kelton argues that our government's inability to provide for citizens isn't due to a lack for money; instead, our leaders lack political will."-- Farhad Manjoo, The New York Times, "Kelton and her colleagues have brought a great many non-economists into the economic conversation in a way that no other contemporary branch of heterodox economics has been able to....[Sh]e's dead right about a central political fact of our times: A large, active public sector is more needed today than ever, and unfounded fears of public debt are a big reason we haven't gotten it. Which means her eloquent, accessible book is performing an important public service."-- The American Prospect, "Stephanie Kelton is among the most prominent of the dozen or so economists associated with MMT. Her new book The Deficit Myth is intended to bring MMT to a broader audience. In addition to an impassioned call for a bigger, more active public sector, The Deficit Myth contains a number of distinct economic arguments." -- The American Prospect, "In a world of epic, overlapping crises, Stephanie Kelton is an indispensable source of moral clarity. Whether you're all in for MMT, or merely MMT-curious, 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, author of On Fire: The Burning Case for a Green New Deal, " The Deficit Myth is a triumph. It is absorbing, compelling, and--most important of all--empowering. Embracing a well-researched framework that focuses on how real-world economies actually operate, she lays out a realistic path to true economic prosperity. It is an approach that focuses on Main Street and not Wall Street and will permit us to not only revitalize the struggling middle class, but address critical social problems like chronic unemployment, poverty, health care, and climate change. We of course face many binding constraints on our ability to act, but Kelton argues that the intentional underemployment of our own resources that results from the pervasive influence of deficit myths should not be one. We have needed this book for a very long time. Everyone should read it, and then reread it, before it is too late to change course." -- John T. Harvey, professor of economics, Texas Christian University, "[A] provocative, engaging, and thoroughly readable new book on modern monetary theory, economic policy, and job creation...Kelton... does a masterful job of challenging conventional wisdom with new facts, trends and data. You may not end up agreeing with her, but Kelton most certainly will make you think."-- Larry Gennari , Boston Business Journal, "Kelton certainly offers food for thought at a time when governments are spending eye-watering sums to mitigate damage from the coronavirus pandemic." -- Spear's Magazine, "I really can't recommend it (or time with the kids, for that matter) highly enough. It's one of those books that seems counterintuitive until it suddenly clicks, after which it seems obvious. And if it's broadly correct, which I think it is, then we have a much larger world of political possibility than we realize."-- Matt Reed, Inside Higher Ed, "Kelton's mission in this powerful book is to free us from defunct orthodox thinking about fiscal deficits rooted in the bygone era of the gold standard. Her theoretical canvas is modern monetary theory. At its core MMT offers a simple proposition: In a fiat currency world, the finances of we the people ain't the same as a summing up of our individual budget constraints, because we the people can't go broke, only deficit-spend our collective self into inflationary excesses. In the prevailing era of too-low inflation, the macro policy implication should be obvious: We the people presently have far more fiscal space than the deficit scold, pay-for crowd preaches. Kelton is a gifted writer and teacher and I confidently predict that The Deficit Myth , brilliantly written and argued, will become the defining book on what MMT is--and what it is not."-- Paul Allen McCulley, retired managing director and chief economist, PIMCO, and senior fellow, Cornell University Law School, "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, Allianz, "A robust, well-reasoned, and highly readable walk through many common misunderstandings. A 'must-read' for anyone who wants to understand how government financing really works, and how it interplays with economic policy." -- Frank Newman, former deputy secretary of the Treasury
Lccn
2019-059417
Dewey Decimal
332.401
Intended Audience
Trade
Dewey Edition
23
Illustrated
Yes

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  • by ervtroyer
    Jan 22, 2021

    Modern Monetary Theory clearly explained

    This book give a very informative explanation of Modern Monetary Theory (MMT). It explains why our budget deficit is good and necessary, because we will never run out of money to pay for the projects that the country needs. Our government is the issuer of our dollars, and when more is needed they just "print" more. In actuality the Federal Reserve simply adds a dollar amount into a government account, and it becomes available to spend. The one controlling factor is inflation - if too much money is available for too few goods, prices will rise. It is more complicated than this, but the book has a clear explanation of how it all works. When our politicians say "We can't afford that" or "How can our grandkids ever pay for this?" they are lying, or they don't understand MMT. When they want a ...

    Verified purchase: YesCondition: Pre-OwnedSold by: greatbookprices2

  • by motion-media
    Sep 26, 2020

    Fascinating New Book

    This important new book by influential economist Stephanie Kelton of Stony Brook University addresses six persistent myths about our money system and government finance with these key observations: the national government's budget is not like a household budget; "money printing" does not automatically cause inflation; the national debt will not pose a burden to future generations; a federal deficit equals a private sector financial surplus; a foreign trade deficit is not harmful, but has benefits; Social Security and other federal programs will not "run out of money." The book illuminates the operations of government spending and taxation with a clarity seldom found in books about economics. Dr. Kelton also explains how these myths came about and why they're perpetuated in a day when they ...

    Condition: Pre-OwnedSold by: nistelrooyz873

  • by lannyblueyes
    Jun 30, 2022

    Behind the curtain and under the sheets

    A seismic and seminal work on par with Adam Smith's "The Wealth of Nations" and Marx's "Das Kapital:

    Verified purchase: YesCondition: Pre-OwnedSold by: alibrisbooks

  • by integratedsignal
    Jan 26, 2021

    Important insight on a crucial issue

    How a country that issues money can face inflation but never "run out of money" and taxes or loans are choices, but not necessary constraints on government spending: money is created by the stroke of an electronic pen not by obtaining it from the public.

    Verified purchase: YesCondition: Pre-OwnedSold by: greatbookprices2

  • by belaa_96
    Aug 12, 2020

    Money printing

    It's the very government she talks about that got us where we are.

    Verified purchase: YesCondition: NewSold by: alibrisbooks

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