Download or read book The Deficit Myth written by Stephanie Kelton and published by PublicAffairs. This book was released on 2020-06-09 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.
Download or read book Debt Deficits and the Demise of the American Economy written by Peter J. Tanous and published by John Wiley & Sons. This book was released on 2011-05-03 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: What investors can do to protect their investments in the next phase of the ongoing global economic collapse The United States is heading toward an unavoidable financial catastrophe that will paralyze the markets and the overall economy in ways never before seen. Some call this impending economic catastrophe a double-dip recession, others a financial Armageddon. Regardless of what it's called, it is too late to stop it. Debts, Deficits, and the Demise of the American Economy is a look at how we got here, how the crisis is unfolding, and how it will end with a stock market crash in 2012, if not sooner. Takes you through the unraveling of the collapse, starting with a wave of sovereign debt defaults in Europe Predicts a stock market decline of two to three thousand points, a run on banks resulting in a major bank crisis, and rampant inflation Provides investment strategies, including alternative investments such as timber, farm land, and oil Offers a detailed proposal to get the United States out of the crisis Debts, Deficits, and the Demise of the American Economy is a must-read, play-by-play account of the worldwide depression that is likely to unfold in the coming years.
Download or read book Dollars Debt and Deficits written by Ishrat Hussain and published by . This book was released on 2004 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dollars Debts and Deficits written by Rudiger Dornbusch and published by Mit Press. This book was released on 1986 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This interesting and provocative collection of essays addresses most if not all of the key current policy issues in open economy macroeconomics: the strong dollar, LDC debt problems, and deficit financing. Although these three areas involve widely different policy problems, Dornbusch brings a common political economy perspective to bear on the issues, giving the essays a coherent perspective and revealing that more than ever, modern macroeconomics is useful as a framework for active policy. Professionals interested in the world economy and students of international finance will appreciate the author's strong analytical approach and the clear, cogent defense of his viewpoints. Three chapters in the book's first part, Exchange Rate Theory and the Overvalued Dollar, cover the rise in the dollar, equilibrium and disequilibrium exchange rates, and flexible exchange rates and interdependence. Those in the second part, The Debt Problems of Less Developed Countries, present three case studies in overborrowing, and discuss the world debt problem from 1980 to 1984 and beyond, and what we have learned from stabilization policy in developing countries. A concluding part, Europe's Problems of Growth and Budget Deficits, takes up public debt and fiscal responsibility, and sound currency and full employment. Rudiger Dornbusch is Ford International Professor of Economics at MIT. Dollars, Debts, and Deficits is based on three related lectures he gave in 1984 at the University of Leuven in the Gaston Eyskens Lecture Series. Dornbusch is the editor with Mario Henrique Simonsen of Inflation, Debt, and Indexation, available in paperback from The MIT Press.
Download or read book Fiscal Therapy written by William G. Gale and published by Oxford University Press. This book was released on 2019-03-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Keeping the economy strong will require addressing two distinct but related problems. Steadily rising federal debt makes it harder to grow our economy, boost our living standards, respond to wars or recessions, address social needs, and maintain our role as a global leader. At the same time, we have let critical investments lag and left many people behind even as overall prosperity has grown. In Fiscal Therapy, William Gale, a leading authority on how federal tax and budget policy affects the economy, provides a trenchant discussion of the challenges posed by the imbalances between spending and revenue. America is facing a gradual decline as debt accumulates and delay raises the costs of action. But there is hope: fiscal responsibility aligns with both conservative and liberal goals and citizens of all stripes can support the notion of making life better for our children and grandchildren. Gale provides a plan to make the economy and nation stronger, one that controls entitlement spending but preserves and enhances their anti-poverty and social insurance roles, increases public investments on human and physical capital, and raises and reforms taxes to pay for government services in a fair and efficient way. What is needed, he argues, is to balance today's needs against tomorrow's obligations. We face significant fiscal challenges but, if we are wise enough to seize our opportunities, we can strengthen our economy, increase opportunity, reduce inequality, and build better lives for our children and grandchildren. We do not have to kill popular programs or starve government. Indeed, one main goal of fiscal reform is to maintain the vital functions that government provides. We need to act responsibly, pay for the government we want, and shape that government in ways that serve us best.
Download or read book Expansionary Austerity New International Evidence written by Mr.Daniel Leigh and published by International Monetary Fund. This book was released on 2011-07-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.
Download or read book What We Owe written by Carlo Cottarelli and published by Brookings Institution Press. This book was released on 2017-09-05 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: The euro crisis, Japan's sluggish economy, and partisan disagreements in the United States about the role of government all have at least one thing in common: worries about high levels of public debt. Nearly everyone agrees that public debt in many advanced economies is too high to be sustainable and must be addressed. There is little agreement, however, about when and how that addressing should be done—or even, in many cases, just how serious the debt problem is. As the former director of the International Monetary Fund's Fiscal Affairs Department, Carlo Cottarelli has helped countries across the globe confront their public finance woes. He also had direct experience in advising his own country, Italy, about its chronic fiscal ailments. In this straightforward, plain-language book, Cottarelli explains how and why excessive public debt can harm economic growth and can lead to crises such as those experienced recently in Italy and several other European countries. But Cottarelli also has some good news: reducing public debt often can be done without trauma and through moderate changes in spending habits that contribute to economic growth. His book focuses on positive remedies that countries can adopt to deal with their public debt, analyzing both the benefits and potential downsides to each approach, as well as suggesting which remedies might be preferable in particular situations. Too often, public debate about public debt is burdened by lies and myths. This book not only explains the basic facts about public debt but also aims to bring truth and reasoned nonpartisan analysis to the debate.
Download or read book Debt Deficits and the Demise of the American Economy written by Peter J. Tanous and published by John Wiley & Sons. This book was released on 2011-05-09 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: What investors can do to protect their investments in the next phase of the ongoing global economic collapse The United States is heading toward an unavoidable financial catastrophe that will paralyze the markets and the overall economy in ways never before seen. Some call this impending economic catastrophe a double-dip recession, others a financial Armageddon. Regardless of what it's called, it is too late to stop it. Debts, Deficits, and the Demise of the American Economy is a look at how we got here, how the crisis is unfolding, and how it will end with a stock market crash in 2012, if not sooner. Takes you through the unraveling of the collapse, starting with a wave of sovereign debt defaults in Europe Predicts a stock market decline of two to three thousand points, a run on banks resulting in a major bank crisis, and rampant inflation Provides investment strategies, including alternative investments such as timber, farm land, and oil Offers a detailed proposal to get the United States out of the crisis Debts, Deficits, and the Demise of the American Economy is a must-read, play-by-play account of the worldwide depression that is likely to unfold in the coming years.
Download or read book The Budget and Economic Outlook written by and published by . This book was released on 2008 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Do Deficits Matter written by Daniel Shaviro and published by University of Chicago Press. This book was released on 1997-05 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do deficits matter? Yes and no, says Daniel Shaviro in this political and economic study. Yes, because fiscal policy affects generational distribution, national saving, and the level of government spending. And no, because the deficit is an inaccurate measure with little economic content. This book provides an invaluable guide for anyone wanting to know exactly what is at stake for Americans in this ongoing debate. "[An] excellent, comprehensive, and illuminating book. Its analysis, deftly integrating considerations of economics, law, politics, and philosophy, brings the issues of 'balanced budgets,' national saving, and intergenerational equity out of the area of religious crusades and into an arena of reason. . . . A magnificent, judicious, and balanced treatment. It should be read and studied not just by specialists in fiscal policy but by all those in the economic and political community."—Robert Eisner, Journal of Economic Literature "Shaviro's history, economics, and political analysis are right on the mark. For all readers."—Library Journal
Download or read book White House Burning written by Simon Johnson and published by Vintage. This book was released on 2013-02-12 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the authors of the national bestseller 13 Bankers, a chilling account of America’s unprecedented debt crisis: how it came to pass, why it threatens to topple the nation as a superpower, and what needs to be done about it. With bracing clarity, White House Burning explains why the national debt matters to your everyday life. Simon Johnson and James Kwak describe how the government has been able to pay off its debt in the past, even after the massive deficits incurred as a result of World War II, and analyze why this is near-impossible today. They closely examine, among other factors, macroeconomic shifts of the 1970s, Reaganism and the rise of conservatism, and demographic changes that led to the growth of major—and extremely popular—social insurance programs. What is unquestionably clear is how recent financial turmoil exacerbated the debt crisis while creating a political climate in which it is even more difficult to solve.
Download or read book Understanding Budget Deficits and the National Debt written by Kathy Furgang and published by The Rosen Publishing Group, Inc. This book was released on 2011-12-15 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the Great Recession of 2007-2009 and the ensuing federal stimulus efforts, no economic subject has drawn as much attention or attracted as much controversy as the national debt and federal and state budget deficits. This book clearly explains how and why governments borrow money, how and why they engage in deficit spending, and the short- and long-term effects such practices have on the economy. Even-handed and nonpartisan, this book allows readers to understand the actual economic mechanics at work beneath all the hype. As such, it is a welcome, calming corrective to a partisan debate that has obscured economic realities and muddled the effort to guarantee a sound economy for future generations of Americans.
Download or read book The Budget Deficit and the National Debt written by Kenneth W. Thompson and published by . This book was released on 1997 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Budget Deficit and National Debt analyzes and attempts to better understand the problems associated with the debt and deficit. The theme of this book parallels the Miller Center's primary focus on governance and the presidency. The president is a key actor in submitting, approving, and administrating the budget. Therefore, the study of debt and deficit is in keeping with the Miller Center's focus on governance and the presidency. The book is divided into four sections. The first section discusses the debt and deficit from a variety of political perspectives and ideological approaches. Three contributors, representing different schools of thought and professional backgrounds, provide separate frameworks for considering the budget and deficit. The first section contrasts liberal, conservative, and independent views and compares the effects of the deficit on federal and local governments. The second section provides an overview of the origins and growth of the deficit and its effect on the U.S. economy. The authors outline interaction among and competition between economic and political forces operating in the United States, and they debate the merits of deficit reduction proposals. The third section examines the economic and political ramifications of the deficit, reviewing tactical and strategic errors and their consequences. The book concludes with a discussion of the political struggle over controlling the deficit and chronicles the ambitions and rivalries of two key political figures--Bill Clinton and Newt Gingrich. Their dispute over the seven year balanced-budget plan had significant influence on the policies of debt and deficit.
Download or read book A Nation in Debt written by Richard H. Fink and published by . This book was released on 1987 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Debt written by United States. General Accounting Office and published by . This book was released on 1996 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Articles, reports, and books on the federal debt and its effects tend to be complex and technical. As a result, the public frequently misunderstands these issues. For example, people often forget that even if Congress and the President agree to balance the annual budget within the next several years, the federal debt will continue to grow until balance is actually achieved. Although declining deficits and, ultimately, balanced budgets could reduce the debt as a share of the economy, the debt will not decline unless there is a budget surplus. This document responds to frequently asked questions about the federal debt, deficits, and interest rates. GAO organizes these questions into three sections: (1) trends in the federal debt, deficits, and interest; (2) sales and ownership of federal debt; and (3) effects of the federal debt. For readers who are interested in more detailed information on these topics, GAO includes a short bibliography.
Download or read book The Ten Trillion Dollar Gamble The Coming Deficit Debacle and How to Invest Now written by Russ Koesterich and published by McGraw Hill Professional. This book was released on 2011-04-15 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: The next economic storm and how to prepare for it--from a top decision-maker at BlackRock An economic calamity is already looming on the horizon, and it's going hit the U.S. on a scale equal to the recent mortgage meltdown and liquidity crisis of 2008-2009. In February, President Obama announced that the 2010 budget deficit would surpass $1.5 trillion, an amount greater than the total debt of our nation in its first 200 years of its existence. And things only get worse from here: between 2010 and 2019, America will add one trillion of additional debt every year. In The Ten Trillion Dollar Gamble, Russ Koesterich, who manages over $100 billion for the world's largest money management company, offers compelling evidence supporting his prediction that the global economy is on the verge of more, even greater upheaval and provides his unique insight into: The structural weaknesses underlying the economic meltdown Why commodities will be so important in the next economic climate Likely ramifications to the real estate market The best stocks to buy and which ones to avoid Today's investing strategies will be rendered useless in the next storm's wake. Written by one of the most qualified people in the business, The Ten Trillion Dollar Gamble offers a plan for protecting your wealth and preserving the power of your savings. Table of Contents Chapter 1. Why Worry About the Deficit? Chapter 2. Why the Deficit Will matter to You Chapter 3. What to Watch Chapter 4. How to Manage Your Cash and Debts Chapter 5. Investing in Bonds in a Rising Rate Environment Chapter 6. Stocks to Buy and Avoid Chapter 7. Why You May Need Commodities Chapter 8. What to do with Real Estate Chapter 9. Putting it All Together Chapter 10. Conclusion: Can We avoid the budget debacle?
Download or read book Dollars Debt and Deficits written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-09-01 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the challenges facing the international monetary and financial system, as well as the future role of the Bretton Woods institutions in addressing those challenges. The volume is based on the proceedings of a 2004 conference cosponsored by the Banco de Espana and the International Monetary Fund to commemorate the 60th anniversary of the Bretton Woods meetings in July 1944. The chapters look at global imbalances, exchange rate issues, debt in emerging economies, and innovations in private and multilateral lending.
