The Deficit Myth by Stephanie Kelton

Rating: ★★★

"Austerity is a failure of imagination - a failure to imagine how we can simultaneously improve living standards, invest in our nation's future, maintain a healthy economy, and manage inflation."

This is an accessible read that explains Modern Monetary Theory (MMT) and why fiscal deficits are often good when a government issues its own currency. If you think the budget surpluses under Clinton were a good thing or if you’re worried about China owning the national debt, give this a read – I bet this book will change your mind. Even then, you might get about the same out of a lecture or interview that Kelton has done. If you’re already familiar with MMT, it’s probably not worth reading.