GMALL – The Deficit Myth: Money, Taxes, and Deficit Spending

The Deficit Myth, a 2020 New York Times bestseller by Stephanie Kelton, former chief economist for the U.S. Senate Budget Committee, brought a new school of thought called Modern Monetary Theory (MMT) to the attention of the public, the media, and the political class. Journalist David Cay Johnston described it as “simply the most important book I’ve ever read.” Steven Hail, a close colleague of Kelton’s, will provide an accessible and entertaining introduction to MMT, dispel the myth that federal deficits create a burden for the next generation, and discuss the implications of The Deficit Myth for policymakers in an era of polycrises.