The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy Free Audiobook Download by Stephanie Kelton

Stephanie Kelton's book "The Deficit Myth" argues the deficit is actually an asset. The idea that economic growth is derived from debt and deficit spending is a myth perpetuated by Republicans who don't want to support social welfare programs. If people have enough money in their bank account, they will spend it as needed. The economy would be more stable if there was more social welfare spending so that people could live on it instead of needing to borrow money to find work.

The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy is a book that argues that the deficit hysteria in America is overblown. The authors explain how government spending, as well as personal consumption, creates jobs and more economic growth. They also outline what would happen if Congress ended the deficit hysteria by raising taxes on corporations, thereby increasing government spending.

In 'The Deficit Myth', Stephanie Kelton seeks to debunk the myth of the deficit and how it has been used as a leverage point to argue for austerity, tax cuts, and deregulation. Kelton argues that there is no such thing as a "deficit", but rather a "surplus." A surplus occurs when more income is produced than is spent on goods and services.

Modern Monetary Theory (MMT) explains how the government can create money with or without a deficit, which it has been doing since the early 1800s. MMT also explains how just by printing money, the government could pay all its debt and then some without any inflationary effects.

Modern Monetary Theory (MMT) is a critical economic theory that illustrates how economies cannot pay for the public goods and services they provide. By challenging austerity measures, MMT has proposed an alternative to capitalist economics with its contradictory conclusions that can only exist in a society where money is created out of thin air and then used to fund public goods and services.

Stephanie Kelton, a professor of Economics at Stony Brook University and a long-time advocate for Modern Monetary Theory (MMT), has written an accessible guide to the theory that the private debt created by the US government is not real money. This book was published in 2011 and is available free of charge.