Kelton’s argument rests on these key principles: Kelton advocates a more holistic view of the economy-arguing that we ought to focus on poverty reduction, combating climate change, and building a more just and equitable society as the true measures of economic success, rather than focusing solely on the narrow budgetary impacts of legislation. government could finance any program it wishes to create. This idea of the federal government as a currency issuer instead of a currency user is central to The Deficit Myth, in which Kelton champions more aggressive deficit spending by arguing that the U.S. dollars, it can simply create them anytime it needs more dollars to pay for something. Because the government is the sole supplier of U.S. federal government as “needing” money to pay for its spending. In The Deficit Myth, economist Stephanie Kelton-a former Senate Budget Committee staffer and 2016 campaign adviser to Bernie Sanders-writes that nearly all of the public discourse about national debts and deficits gets the facts entirely wrong.Ī leading proponent of the heterodox economic school of thought known as Modern Monetary Theory (MMT), Kelton argues that it is incorrect to think of the U.S. 1-Page Summary 1-Page Book Summary of The Deficit Myth
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