The Deficit Myth

Get in the xigxag app
Already purchased

Click to open directly in the xigxag app.

This book is not purchasable in your country. Please select another book. Pre-order Buy Now £{{ price }} Send as a gift
How does xigxag pricing work?

Listen to a sample

What to expect

'Game-changing ... Read it!' - Mariana Mazzucato

In a world of epic, overlapping crises, Stephanie Kelton is an indispensable source of moral clarity ... the truths that she teaches about money, debt, and deficits give us the tools we desperately need to build a safe future for all. Read it - then put it to use. - Naomi Klein

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.

Any ambitious proposal - ranging from fixing crumbling infrastructure to Medicare for all or preventing the coming climate apocalypse - inevitably sparks questions: how can we afford it? How can we pay for it? Stephanie Kelton points out how misguided those questions really are by using the bold ideas of modern monetary theory (MMT), a fundamentally different approach to using our resources to maximize our potential as a society.

We've been thinking about government spending in the wrong ways, Kelton argues, on both sides of the political aisle. Everything that both liberal/progressives and conservatives believe about deficits and the role of money and government spending in the economy is wrong, especially the fear that deficits will endanger long-term prosperity.

Through illuminating insights about government debt, deficits, inflation, taxes, the financial system, and financial constraints on the federal budget, Kelton dramatically changes our understanding of how to best deal with important issues ranging from poverty and inequality to creating jobs and building infrastructure. 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?

With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT busts myths that prevent us from taking action because we can't get beyond the question of how to pay for it.


'The best book on rethinking economics that anyone will find right now.' - Richard Murphy, Political Economist and author of The Joy of Tax


(P)2020 Hachette Audio

Critics Review

Kelton is to modern monetary theory what Milton Friedman was to American conservatives for a half century - conversational, fierce, relentless.
Financial Times
Kelton's game-changing book on the myths around government deficits is both theoretically rigorous and empirically entertaining. It reminds us that money is not limited, only our imagination of what to do with it. After you read it you will never think of the public purse as a household economy again. Read it!
Mariana Mazzucato, author of The Value of Everything: Making and Taking in the Global Economy
In a world of epic, overlapping crises, Stephanie Kelton is an indispensable source of moral clarity ... the truths that she teaches about money, debt, and deficits give us the tools we desperately need to build a safe future for all. Read it - then put it to use.
Naomi Klein
The best book on rethinking economics that anyone will find right now.
Richard Murphy
In the wake of the financial impact of the coronavirus, she's having a moment ... she's become a rock star in her field.
The Times
Kelton is a razor-sharp writer ... smashing shibboleths of conventional economic wisdom.
The Irish Times
This book is going to be influential.
Financial Times
One of the most important and accessible books ever written about money
The National
Kelton's book achieves a revolution in political economy.
LSE Review of Books
A leading light in modern monetary theory.
Financial Times
[Kelton] has succeeded in instigating a round of heretical questioning, essential for a post-Covid-19 world, where the pantheon of economic gods will have to be reconfigured.
The Guardian
Convincingly overturns the conventional wisdom that federal budget deficits are somehow bad
New York Times
The most talked about economics book of 2020
Spears Magazine
A remarkable book both in content and timing. A 'must read' that is sure to influence many aspects of policymaking going forward
Mohamed El-Erian, chief economic advisor at Allianz

About xigxag

Experience the best audiobooks with xigxag, an innovative and user-friendly audiobook platform designed for seamless discovery, purchase, and enjoyment of your favorite titles. Our flexible pricing model offers bestselling audiobooks for less, providing affordable prices and the best audiobook deals without requiring a subscription. Perfect for gifting, xigxag also features convenient audiobook gift cards and in-app audiobook gifting options.

 

Beyond the listening experience, xigxag stands as an exciting alternative to big tech, embodying a strong commitment to sustainability and ethical practices. As the only B Corp certified UK audiobook service, we ensure a guilt-free listening experience from a leader in audiobook innovation.

 

Effortlessly search audiobooks, access honest audiobook reviews that evaluate both the content and narration, and easily discover hidden gems. Whether you prefer to download or stream top audiobook titles, xigxag provides the best possible listening experience anytime, anywhere, on the UK’s best independent audiobook app. Discover the future of audiobooks today.