The 7 Deadly Innocent Frauds of Economic Policy
The 7 Deadly Innocent Frauds of Economic Policy identifies and debunks seven entrenched ideas keeping the economy in a downward trajectory. Warren Mosler exposes commonly-held beliefs, such as ‘deficits leave the debt burden to our children’ and ‘Social Security is broken’, to be economic myths. In addition to correcting these mindsets, Mosler promotes the restoration of the American economy with practical and feasible proposals.
Table of Contents
Overview
Part I: The Seven Deadly Innocent Frauds
Deadly Innocent Fraud #1: The Federal Government must raise funds through taxation or borrowing in order to spend.
Deadly Innocent Fraud #2: With government deficits, we are leaving our debt burden to our children
Deadly Innocent Fraud #3: Federal Government budget deficits take away savings
Deadly Innocent Fraud #5: The trade deficit is an unsustainable imbalance that takes away jobs and output
Deadly Innocent Fraud #6: We need savings to provide the funds for investment
Deadly Innocent Fraud #7: It's a bad thing that higher deficits today mean higher taxes tomorrow
Part II: The Age of Discovery
Part III: Public Purpose
"WarrenMosler is one of the most original and clear-eyed participants in today's debates over economic policy."
—James Galbraith, Former Executive Director, Joint Economic Committee and Professor, The University of Texas - Austin
"This book should not only become mandatory reading for students of economics, butany policy maker who truly wants to deal with the grave disasters engendered from years of "reading from the wrong playbook"
—Marshall Auerback, Director Institute for Economic Thinking, Fellow for the Economists for Peace and Security, Levy Institute
"It is no exaggeration to say that his ideas concerning economic theory and policy are responsible for the most exciting new paradigm in economics in the last 30 years - perhaps longer - and he has inspired more economists to turn their attention to the real world of economic policy than any other single individual."
—Dr. Mathew Forstater, Professor of Economics, University of Missouri - Kansas City
"Warren Is one of the rare individuals who understands money and finance and how theTreasury and the Fed really work. He receives information from industry experts from all over the world."
—William Black, Associate Professor of Economics & Law, University of Missouri - Kansas City