Deficit owl
Deficit owl is a slang term used to describe followers of the economic school of thought known as Modern Monetary Theory. The term was coined in 2010 by Professor Stephanie Kelton. It was intended to distinguish MMT economists from those referred to as deficit hawks and deficit doves. According to Kelton: "I decided the owl would make a good mascot for MMT because people associate owls with wisdom and also because owls’ ability to rotate their heads nearly 360 degrees would allow them to look at deficits from a different perspective."[1]
While deficit hawks and deficit doves are concerned with the government's fiscal balance (albeit over different time frames), deficit owls are more concerned with balancing the economy and allowing the deficit to be whatever is needed to achieve this. Deficit owls do not recommend targeting any specific budget outcome.[2]
See Also
References
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- ↑ Kelton, Stephanie (2020). The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy. New York: PublicAffairs. p. 76. ISBN 9781541736184. Search this book on
- ↑ Bowman, Bryan (4/1/2019). "Everything You Thought You Knew About Economics May Be Wrong". The Globe Post. Unknown parameter
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