The Deficit Myth – Stephanie Kelton – Tiny Book Review

The Deficit Myth is very relevant now that government spending is on the rise due to Covid. I wonder if MMT could be applied to the countries of the EU as well?

Kelton the deficit myth 2021

the deficit myth kelton book zinvollerleven.nlThis book is an interesting read. Stephanie Kelton clearly has a point to make in The Deficit Myth; Modern Monetary Theory and How to Build a Better Economy. Kelton gets a tad repetitive at times. But she has managed to make sure I never think about government budgets again as solely being paid for with taxpayer’s money. Neither will I think of a government budget as something finite. Provided that government has its own currency to spend and create.

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Applying the MMT insights in the EU monetary system?

Deficit Myth Kelton

As a citizen from the European Union our country is a currency user and not an issuer. I am not an economist myself. But I nevertheless wonder how we can use Kelton’s insight for the benefit of our citizens in the Netherlands (and the EU). Especially with the ongoing Covid Crisis that has big consequences for the economy and government spending as well as the further growing inequality. Not quite there yet. But plenty of food for interesting thought.


kelton deficit myth mythe staatsschuldFor Dutch readers: the Defcit Myth will be available as De Mythe van de Staatsschuld in April 2021

Ofcourse you can buy The Deficit Myth by Stephanie Kelton online through A translation is expected to be available from April 2021 with the title “De Mythe van de Staatsschuld, op weg naar een nieuwe economie”. If you prefer to read in Dutch, I think your patience will be rewarded.  I found it a very worthwhile read.

Update voor de Nederlandse lezers: inmiddels heb ik een uitvoerig stuk geschreven over dit boek met de titel “Modern Monetary Theory – Mythe van de Staatsschuld”. Het gaat dieper in op de inhoud van het boek en de relevantie voor ons in Nederland. Ik wens je veel leesplezier!


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