This 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.
* The Philosophy Book – Big Ideas Simply Explained – Tiny Book Review *
Applying the MMT insights in the EU monetary system?
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.
For 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 bol.com. 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.