His Robin Hood approach of tax the rich and give to the poor is yesterday's thinking. Her beliefs are so far-flung, that Bernie Sanders is considered conventional in her eyes. Kelton is a crusader for MMT, not just a run of the mill maverick economist. Back in 2015, she was hired by Bernie Sanders to be the chief economist for the Democrats on the US Senate Budget Committee. Kelton has great credentials in her area of expertise and currently teaches economics and public policy at Stony Brook University. It upends everything that's been taught in universities and practiced by economists and politicians for eons.ĭr. At the outset, I believed that MMT would be an alteration to our current capitalist economic system, but it's not. However, in the traditional macroeconomic sense, the only solution to the mounting deficit is for Uncle Sam to utilize MMT. Instead, I got a narrative about MMT, and yes, the deficit is discussed in length. I bought the book wanting to learn more about our deficit, not only how it affects my investments, but my future as a whole. After finishing it, and rereading everything I highlighted, I still can't wrap my head around it. Nevertheless, it's a difficult book about a difficult subject: Modern Monetary Theory. Although an economics manifesto, the writing style makes it easy to read. Hot off the press is Stephanie Kelton's The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy.
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