The Deficit Myth by Stephanie Kelton - Modern Monetary Theory - Non Fiction - Paperback

Details
Condition: BRAND NEW
Format: Paperback
ISBN: 9781529352566
Publisher: John Murray
Age Range: Adult

Overview
The Deficit Myth by Stephanie Kelton is a bold, accessible rethink of how modern economies actually work. Drawing on Modern Monetary Theory (MMT), Kelton challenges the conventional wisdom that government deficits are inherently dangerous, arguing instead that they can be powerful tools for funding healthcare, education, infrastructure and climate action. This brand-new paperback edition is essential reading for anyone curious about public finance, economic policy, or the politics shaping our shared future.

About the Book
For decades, politicians and pundits have warned that government deficits are a looming disaster — a debt to be feared and urgently reduced. In The Deficit Myth, economist Stephanie Kelton dismantles this orthodoxy, showing that for countries which issue their own sovereign currency, the true constraint on spending is not a shortage of money but a shortage of real resources: labour, materials, and productive capacity. Kelton reframes the national conversation around deficits, asking not "how do we pay for it?" but "do we have the real resources to do it?" Through clear explanations, historical case studies, and analysis of crises from the 2008 financial crash to the Covid-19 pandemic, she demonstrates how governments have already used large-scale spending to respond to emergencies — and argues this same thinking could be applied to funding universal healthcare, a federal job guarantee, and an ambitious response to climate change. Rather than dry economic theory, the book is written in a warm, persuasive, and often folksy style that makes complex monetary concepts genuinely understandable to non-specialists. Kelton draws on her own experience advising policymakers to show how deficit fears have shaped — and often stalled — progressive policy for generations, and offers a hopeful, practical roadmap for rethinking what governments can achieve.

• Clear, jargon-free explanation of Modern Monetary Theory (MMT) and sovereign currency systems.
• Real-world case studies covering financial crises, recessions, and pandemic-era spending.
• Practical discussion of funding healthcare, job guarantees, education and climate policy.
• Challenges conventional "balanced budget" thinking with evidence-based alternatives.
• Accessible, engaging writing suitable for general readers, students and policymakers alike.
• Written by a leading MMT economist with direct Washington policy experience.

About the Author
Stephanie Kelton is Professor of Economics and Public Policy at Stony Brook University and one of the world's leading voices on Modern Monetary Theory. She previously served as Chief Economist for the U.S. Senate Budget Committee (Democratic staff) and as a senior economic adviser to Bernie Sanders's 2016 presidential campaign. A former editor-in-chief of a leading economics blog, Kelton has been recognised by POLITICO as one of the most influential figures in American policy debate.

Why You'll Love This Book
Provocative yet grounded, The Deficit Myth offers a genuinely fresh lens on public finance. It's a must-read for anyone wanting to understand — and question — how deficits, debt, and government spending really work.

Please Note: Cover may vary slightly from image shown; this is the UK edition with UK ISBN as listed.