Book review: The Deficit Myth: modern monetary theory and the birth of the people’s economy by Stephanie Kelton

Despain, Hans (2020) Book review: The Deficit Myth: modern monetary theory and the birth of the people’s economy by Stephanie Kelton. LSE Review of Books (22 Jun 2020). Blog Entry.

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Abstract

In The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy, Stephanie Kelton dispels six key myths that have shaped the conventional understanding of deficits as inherently bad, instead arguing that deficits can strengthen economies and lead to faster growth. This book is a triumph, writes Professor Hans G. Despain, shifting normative grounds of government spending away from the false and unproductive idea that deficits are irresponsible and ruinous towards the productive political activity of deciding which spending programmes should be prioritised.

Item Type:	Online resource (Blog Entry)
Official URL:	https://blogs.lse.ac.uk/lsereviewofbooks/
Additional Information:	© 2020 The Author(s)
Divisions:	LSE
Subjects:	P Language and Literature > PN Literature (General) H Social Sciences > HJ Public Finance J Political Science > JN Political institutions (Europe)
Date Deposited:	30 Jul 2020 13:51
Last Modified:	14 Sep 2024 02:20
URI:	http://eprints.lse.ac.uk/id/eprint/105456

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