The Kickstart Garage - The Deficit Myth - Modern Monetary Theory #32

The Kickstart Garage

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3y ago 19:38

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In the following episode, Sam dives into the key takeaways from Stephaine Keltons - "The Deficit Myth - Modern Monetary Theory and the Birth of the People's Economy".

In the book, Kelton offers a different perspective on monetary operations that opposes conventional thinking that in order to spend we need to raise taxes. And perhaps conventional thinking may be true under nations that have no union of monetary and fiscal policy or are reliant on another nation's currency. It's definitely not true for nations of monetary sovereignty.

On today's show, you'll learn;

The difference between a currency issuer and a currency user
What is the purpose of taxes if it's not to fund spending
What are the limitations on a nation from spending as much as it wants
The misconception around a nation's debt

and much more.

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You can also pick up a copy of "The Deficit Myth - Modern Monetary Theory and the Birth of the People's Economy".

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