The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy

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

Myths about deficits have long hobbled us as a country. Supporting the economy, paying for healthcare, creating new jobs, preventing a climate apocalypse: How can we pay for it all? Leading economic thinker Stephanie Kelton, shows how misguided that question is. 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?
 
Stephanie Kelton’s brilliant exploration of modern monetary theory (MMT) dramatically redefines how we can responsibly use our resources, giving us the power to move from a narrative of scarcity to one of opportunity and maximizing our potential as a society.

Stephanie Kelton is professor of economics and public policy at the State University of New York at Stony Brook. Named by POLITICO as one of the fifty people most influencing the policy debate in America, she was chief economist on the U.S. Senate Budget Committee (minority staff) and an advisor to Bernie Sanders’s 2016 and 2020 presidential campaigns. She writes The Lens newsletter on Substack.