A few weeks ago I suggested part in jest, part in seriousness, that you assign some reading to Mr. Kubicki concerning our monetary system, to enhance the scope of his topics.
Well, today I urge you to consider another book, and this appeal is addressed to all readers of The Landmark. It is Professor Stephanie Kelton’s new book “The Deficit Myth.” In great detail and clarity she describes how the misunderstanding of our system has hurt us and has held us back from doing things that would be necessary for making our country a better place for all.
Professor Kelton taught economics at UMKC and is now at Stony Brook University. Her book is an eye-opener, as she tells us about the differences between being currency users, what all of us, including businesses and local governments, are and what it means to be a currency issuer like the federal government.
The consequences are huge and it is absolutely appalling that most politicians, even up into the highest ranks, do not understand that or that they deliberately kept us in the dark.
Professor Kelton’s book could lead to ‘the Birth of the People’ Economy,’ which is also the subtitle, and improve life for all by working to reduce the real deficits in our society.