El mito del déficit

Sustaining public health, creating jobs, equipping ourselves with modern infrastructures, fighting inequality, preventing the climate apocalypse..., any ambitious goal inevitably runs up against the complaint of how to find the money to finance these projects, rooted in a series of myths about deficit that systematically hinder us. Drawing on the ideas of modern monetary theory (MMT), a new approach to economics that has taken the world by storm, Stephanie Kelton, one of the leading voices of this current, articulates a rigorous, accessible and convincing argument against the orthodox view of public finance, which erroneously assumes that governments must prepare their budgets like a household manager, that the deficit will harm future generations and displace private investment, or that subsidies will lead to a serious fiscal crisis. Against this, Kelton proposes a novel way of understanding money, taxes and the crucial role of the budget deficit, as well as how we can use resources responsibly to maximize our potential.