Stephanie Kelton shows how misguided this question really is by using the bold ideas of modern monetary theory (MMT), the radically different approach to using our resources to maximize our potential as a society. Everything that we’ve been led to believe about deficits and the role of money and government spending in the economy is wrong, especially the fear that deficits will endanger our long-term prosperity.
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?
What is the best way to balance the risk of inflation against the benefits of a society that is more broadly prosperous, safer, cleaner, and secure?
Kelton is the leading thinker and most visible public advocate of MMT – the most important idea about economics in decades – and delivers a fundamentally different, bold, new understanding for how to build a just and prosperous society.