I wrapped up another great book. This one focused on government deficits as viewed through the lens of Modern Monetary Theory. Author Stephanie Kelton addresses the topic in her recent book titled The Deficit Myth. In this best seller, Ms. Kelton – Professor of Economics and Public Policy at Stony Brook University – explores the role of currency issuers (U.S., Japan, U.K., Australia, etc.) versus currency users. From the book:
“The distinction between currency users and the currency issuer lies at the heart of Modern Monetary Theory. And as we will see in the pages ahead, it has profound implications for some of the most important policy debates of our time, such as health care, climate change, Social Security, international trade, and inequality.”
Inside the Next Transition 