Discover and read the best of Twitter Threads about #thedeficitmyth
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Durante estos días, y por la publicación en castellano de #TheDeficitMyth, os traeremos un #HiloDeLibros sobre obras relevantes para comprender la Teoría Monetaria Moderna, desde aquellas que la defienden y explican hasta las más críticas desde diversas escuelas económicas #TMM 
@UCM_ECONOMICAS @Economia_EA @el_mmt @MariodelRosal @juanrallo @edugaresp @Evanshm @ptcherneva @billy_blog 🦉#ElMitoDelDéficit (@StephanieKelton; 2021, 400 pp. Ed. @tauruseditorial)
¿Y si el déficit fiscal no fuera dañino para un país... sino necesario para su progreso? Uno de los libros de economía más divisivos de los últimos años, escrito por la asesora económica de Bernie Sanders
¿Y si el déficit fiscal no fuera dañino para un país... sino necesario para su progreso? Uno de los libros de economía más divisivos de los últimos años, escrito por la asesora económica de Bernie Sanders
🦉#TeoríaMonetariaModerna (L. R. Wray; 2015, 295 pp. Ed. @LolaBooks)
A través del estudio histórico del dinero, #TMM describe la utilidad de las herramientas del Estado (moneda, impuestos, deuda, déficit) para conseguir a la vez crecimiento, pleno empleo y estabilidad de precios
A través del estudio histórico del dinero, #TMM describe la utilidad de las herramientas del Estado (moneda, impuestos, deuda, déficit) para conseguir a la vez crecimiento, pleno empleo y estabilidad de precios
So we start with the 1st line & hit the buffers as we hit the “reallocate funds fallacy”. This has been explained so many times. Cancelling #HS2 means no money for anything else. Funds raised for #HS2 can ONLY be spent on HS2 & these funds are borrowed against future use.
If there’s no HS2, there’s no funding for HS2 & no money. Also please explain how NR received an initial £48bn for CP6 back in 2019 if HS2 was “hoovering up funds”. As for value, as seen with existing lines, heavy capital costs are made back over the lengthy operational timespan
Remember that parts of today’s WCML are almost 200 years old. How many times has that paid for itself over & over & over again above its initial costs? Also, what’s with a #Green going with the austerity rhetoric?? We can’t afford not to decarbonise, at any cost, esp public spend
The #deficit #myth #deficitmyth by @StephanieKelton #MMT modern monetary theory
Myth N. 1: The #state should budget like a #household
#RealityCheck : unlike a household, a #SovereignNation, which owns its national #centralbank, issues the #currency it spends
Myth N. 1: The #state should budget like a #household
#RealityCheck : unlike a household, a #SovereignNation, which owns its national #centralbank, issues the #currency it spends
Myth N. 2: #deficit is evidence of #overspending
#RealityCheck: look to #inflation for evidence of over spending
#RealityCheck: look to #inflation for evidence of over spending
The purpose of #taxes is not to pay for #government expenditures but to help rebalancing the #wealth distribution #MMT
It's the finale, Day 8 of our online book club for @StephanieKelton's The Deficit Myth!
Today we're reading Chapter 8, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth.
Happy reading🦉...
Today we're reading Chapter 8, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth.
Happy reading🦉...
While describing a meeting with a Congressional representative, Kelton reports that he "winced, as if experiencing physical pain, as Mosler explained that the purpose of collecting taxes is to regulate inflation, that we never need to retire the national debt." #TheDeficitMyth
"the public’s understanding of the economy has to change. No member of Congress is going to bring about that change. We are." #TheDeficitMyth
It's Day 7 of our online book club for @StephanieKelton's The Deficit Myth!
Today we're reading Chapter 7, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth.
Happy reading🦉...
Today we're reading Chapter 7, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth.
Happy reading🦉...
"For decades, America has placed trust and power in a global network of financial and political elites who have profoundly failed to address the economic concerns of most people on the planet." #TheDeficitMyth
"Our government’s fiscal deficit wasn’t cause for concern, but America faced other deficits that mattered enormously: deficits in good jobs, in access to health care, in quality infrastructure, in a clean environment, in a sustainable climate, and more." #TheDeficitMyth
It's Day 6 of our online book club for @StephanieKelton's The Deficit Myth!
Today we're reading Chapter 6, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth.
Happy reading🦉...
Today we're reading Chapter 6, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth.
Happy reading🦉...
Chapter 6 is about entitlements. While the conventional wisdom says these programs are running out of money, SK says we can always afford to make dollar payments, the question is will there be goods for those dollars to buy? #TheDeficitMyth
"Receiving entitlement benefits isn’t a moral failure or a sign of weakness." #TheDeficitMyth
It's Day 5 of our online book club for @StephanieKelton's The Deficit Myth!
Today we're reading Chapter 5, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth.
Happy reading🦉...
Today we're reading Chapter 5, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth.
Happy reading🦉...
Chapter 5 is about trade, trade deals, and sectoral balances. I'm actually pretty excited to read this, since it's rare to hear a fully spelled-out MMT-informed take on trade. #TheDeficitMyth
Trade wars resonate with ordinary Americans who are concerned about jobs. #TheDeficitMyth
It's Day 4 of our online book club for @StephanieKelton's The Deficit Myth!
Today we're reading Chapter 4, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth.
Happy reading🦉...
Today we're reading Chapter 4, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth.
Happy reading🦉...
Chapter 4 is about sectoral balances and "crowding out." Kelton says that the crowding out myth is more technical and wonky than the prior myths, but still commonplace, dangerous, and wrong. #TheDeficitMyth
Wynne Godley was an avid oboe player. #TheDeficitMyth
It's Day 3 of our online book club for @StephanieKelton's The Deficit Myth!
Today we're reading Chapter 3, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth.
Happy reading🦉...
Today we're reading Chapter 3, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth.
Happy reading🦉...
Chaper 3 is about national debt. Kelton begins by recounting the war of birds between the deficit hawks and the deficit doves, and introduces the deficit owl as the wise bird that can see things from a different perspective. We agree!! #TheDeficitMyth
Kelton recalls asking politicians if they wanted to magically wave a wand to eliminate the national debt, and also if they wanted to magically eliminate US Treasury securities. They rarely realized that these are the same question, and gave opposite answers #TheDeficitMyth
It's Day 2 of our online book club for @StephanieKelton's The Deficit Myth!
Today we're reading Chapter 2, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth!
Happy reading🦉...
Today we're reading Chapter 2, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth!
Happy reading🦉...
Chapter 2 is about inflation. While recounting her work on the Senate Budget Committee, Kelton refers to Congress as "the sausage factory" lol. #TheDeficitMyth
"A fiscal deficit isn’t evidence of overspending. For evidence of overspending, we must think of inflation." #TheDeficitMyth
It's Day 1 of our online book club for @StephanieKelton's The Deficit Myth!
Today we're reading the Introduction and Chapter 1, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth.
Happy reading🦉...
Today we're reading the Introduction and Chapter 1, and we'll post highlights below. Read along and post your favorite parts with the hashtag #TheDeficitMyth.
Happy reading🦉...
This is the promise of MMT: that we can build a better economy. Nobody is saying it will be easy, or that there won't be challenges, but "finding the money" isn't the problem. #TheDeficitMyth
"Taxes are important for other reasons that I will explain in this book. But the idea that taxes pay for what the government spends is pure fantasy." #TheDeficitMyth
