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. Whether for better or worse, I’ll leave that for the experts, but The Deficit Myth convinced me that more politicians should give some MMT policies a chance.ĭisclaimer: The publisher provided a free eARC of The Deficit Myth in exchange for an honest review. This radical approach to government finances could change the country forever. In The Deficit Myth, Stephanie Kelton explains MMT by debunking six common myths about U.S. Proponents of this philosophy tell us that thinking about the federal government’s budget acting like a household budget is wrong. In short, MMT is a theory of government deficit. federal government and any national government that issues its own currency, this analogy fails according to advocates of Modern Monetary Theory (MMT). For state and local governments – even for some foreign national governments – this analogy works. How many times have you heard people try to compare the government’s finances to that of a household? Many of my conservative friends say that money coming in has to equal money going out because that makes sense.
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