5/21/2023 0 Comments The deficit myth goodreads![]() ![]() Instead, money and taxes go hand in hand. ![]() ![]() Money was not invented, as so often supposed, to solve the problems of a barter economy. ![]() Kelton begins the book by taking a page right out of David Graeber’s history of debt. Here is another perspective to add to the mix: Modern Monetary Theory, or MMT. But I am a little distressed to find that, according to Stephanie Kelton, most economists and politicians-who already disagree with one another-are still fundamentally wrong about money, taxes, fiscal policy, and government debt. And yet, despite the seemingly scientific nature of this language, we seem hardly better able to pinpoint the nature of economic reality than the scholastics were able to count the angels. To be taken seriously in politics means being able to use this logic. The more I read in the subject, the more I agree with him. Robert Skidelsky, in his enormous biography of Keynes, remarks that economics today occupies the same position as theology did in the Middle Ages-as a complex a priori logic that can be used to reach any number of contradictory conclusions. Robert Skidelsky, in his enormous biography of Keynes, remarks that economics today occupies the same positi Deficits can be used for good or evil. ![]()
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