56 pages • 1 hour read
Stephanie KeltonThe Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy
Nonfiction | Book | Adult | Published in 2020A modern alternative to SparkNotes and CliffsNotes, SuperSummary offers high-quality Study Guides with detailed chapter summaries and analysis of major themes, characters, and more.
Essay Topics
How does the federal government’s role as a currency issuer fundamentally differ from a household’s role as a currency user? Analyze how this distinction shapes Kelton’s arguments about federal spending and debt.
Evaluate Kelton’s proposal for a federal jobs guarantee. How does she argue this would function as an automatic economic stabilizer? What potential challenges and benefits does she identify?
How does modern monetary theory reframe the concept of fiscal responsibility? Compare and contrast this perspective with conventional views about government deficits and debt.
Analyze Kelton’s use of historical examples, such as the moon landing program under President Kennedy, to illustrate how focusing on real resources rather than financial constraints can lead to major achievements.
How does MMT change the conversation about inflation? Examine Kelton’s arguments about what truly causes inflation and how it should be managed.
Compare the automatic economic stabilizers currently in place (such as unemployment insurance) with Kelton’s proposed reforms. How does she argue these systems could be improved?
Analyze Kelton’s discussion of international trade through the MMT lens. How does this perspective challenge conventional wisdom about trade deficits and surpluses?
How does Kelton connect MMT principles to environmental policy and climate change? Evaluate her arguments about funding green initiatives.
Examine Kelton’s critique of “pay-for” requirements in federal legislation. How does she argue these requirements constrain policy choices and affect economic outcomes?
Evaluate Kelton’s arguments about Social Security’s long-term sustainability. How does the MMT perspective challenge conventional narratives about the program’s future?
