- January 9, 2022
- Posted by: Stratford Team
- Category: Economy
How would you react if you see a six-feet-tall person bending while walking in a room over eight-feet high? It would look odd and one may conclude that the person is doing it out of habit or is overcautious. This is the sense one gets when one looks at fiscal deficits where governments tend to be too cautious in spending to the extent that growth suffers. This is the idea that Stephanie Kelton forcefully argues in the book The Deficit Myth.
This book will resonate today in all countries because in the time of a pandemic where the world economy is in disarray, there is a call for more fiscal action. In fact, in India there is a feeling that the government can do more and not hold to the dogma of FRBM and try and ensure that the fiscal balances do not get affected by incurring additional expenditure. We should not think of what the rating agencies say because everyone is working towards resuscitating their economies.
Kelton belongs to what is…
