Bizarre economic theory maintains deficits don’t matter
Stephanie Kelton, in her book The Deficit Myth, maintains that government deficits don't matter. She's wrong
By Morris Dorish Research associate Frontier Centre for Public Policy Author Stephanie Kelton’s main point in The Deficit Myth is that federal deficits are not only harmless but highly desirable as devices to accelerate economic activity and resolve economic inequality. She’s wrong. Government finance is not like other finance, she maintains. Governments are issuers of…