The Smart Bunny's Guide to Debt, Deficit and Austerity: A Review
One of the most important parts of the collective effort to spread the good news about the Modern Money Theory approach to macroeconomics is popularization of MMT views. We need short simply-stated cultural artifacts that tell people what MMT has to say and what some of its policy implications are for fiscal policy that can deliver a greater measure of economic and social justice to people.
The newest effort to popularize MMT has now begun. It is a series of Kindle e-books, really e-pamphlets, written by an occasional blogger and international businesswoman using the web handle Arliss Bunny. Yeah, I know, I know. Please contain your enthusiasm for silly jokes about the handle. Just remember how you felt the first time you ran across a Dummies book.
Arliss is very serious about communicating key insights to people who need to know about MMT, and she is doing that using humor, a vigorous style, simple assertive statements, and utter contempt for those who want to keep people in thrall to false narratives about the macroeconomy and Government fiscal policy. Her first e-book in the series, The Smart Bunny's Guide To Debt, Deficit, and Austerity, is now available at the link. It's cheap (2.99 USD) and you'll get some good laughs out of it, effective sound bites, and some new ways of putting MMT propositions you haven't seen before.
The Smart Bunny's Guide To Debt, Deficit, and Austerity covers: the nature of fiat money; how households are different from Government, Government debt as a constraint, debt and deficit terrorism, the job of the Government in the economy, how government spending works, the relation between Federal debt and private sector financial assets, lies about debt and who benefits from them, gold standard thinking, the Fed as the representative of private interests, an inflation reality check, differences between the US, the Eurozone nations and a basket case like Zimbabwe, deficit spending, austerity, the fall of the Reinhart and Rogoff debt cliff hypothesis, austerity: cause or effect?, the role of business confidence, and what to do about austerity.
Here's Arliss's own blurb from Amazon:
”The Smart Bunny's Guide to Debt, Deficit and Austerity" assumes that you have a real life (meaning you aren't a wonk or a blogger) and that you have a half hour or less to figure out why all this stuff everyone is saying about debt, deficit and austerity is starting to smell like a five day-old fish. Author, Arliss Bunny, suspects that, unlike politicians and pundits, you might have actual brain activity. Melissa Irwin's hilarious illustrations may annoy Arliss but you will be entertained. "The Smart Bunny's Guide" is short, simple and truly brings the funny. What more could you ask from a book about economic policy? Seriously, how often has Paul Krugman made you laugh? Exactly. Read this book.”
Yes, it's edgy; and pretty cool. I like edgy and cool myself. How about you?
(Cross-posted from New Economic Perspectives.)