Deficits and debts, decoded by economist Stephanie Kelton

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Forget everything you thought you knew about Modern Monetary Theory (MMT). The Deficit Myth by economist Stephanie Kelton challenges conventional wisdom when it comes to government deficits and debt, exploring how MMT impacts the economy, the ins and outs of fiscal policy, and the role of the government in the economy. Kelton uses clear and accessible language to explain the complex ideas in her book, making it an easy read regardless of how well-versed you are in economics. Real-life examples and relatable analogies help simplify the nuances of MMT, making it a great read for those newly interested in the topic. Kelton also delves into the political aspects of economic policy, and explains why and how deficit fears have been used to justify austerity measures that disproportionately harm vulnerable populations. She also addresses critics’ concerns over MMT and why it is a better approach than traditional economic thinking. Her approach is a little too idealistic for puritan economists, but The Deficit Myth is a compelling and thought-provoking read regardless of whether or not one agrees or disagrees with Kelton’s ideas.