![]() ![]() Definitely not something that that requires raising taxes, harsh austerity measures or shutting down public-benefit projects.įor these countries (e.g. ![]() makes its own money which isn’t limited by physical resources such a gold and doesn’t have substantial debts in foreign currencies), a national debt is a huge misnomer and is, in an of itself, not a big deal. ![]() The main thesis of the book is that in a government with sovereign control over its currency (i.e. It walks you through the common (faulty, according to the author) narrative ("the government can only spend money it raises from taxes"), gives a brief history of money and how the barter explanation does not fit in with the historical record and explains what would an MMT-inspired approach look like and how it could be better that the status quo. I’ve heard of MMT, but I know next to nothing about how a government is run or how does money even work, really.įor someone in a similar boat, this is a great book. This is a book about a different approach to running the finances of a government via the lens of the Modern Monetary Theory (MMT) and dispelling some common myths. This review was originally posted at Goodreads and imported here later on with next to no spell/grammar checking. The Deficit Myth by Stephanie Kelton - Aimlessly Going Forward Aimlessly Going Forwardīook, goodreads, humanism, review, society ![]()
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