The Debt Delusion

The Debt Delusion challenges the widely accepted notion that "Governments should spend no more than their tax income." Many in Europe and North America regard this as simple common sense, supported by economic metaphors like "living within your means" or "balancing the budget." Such metaphors are seen as essential to avoiding the perils of debt, taxation, and financial ruin.

This book argues that these familiar sayings form part of the "debt delusion": a set of convincing yet misleading ideas used to justify harmful austerity policies. John Weeks debunks these myths by revealing the truth about public spending, taxation, and debt, highlighting their actual roles in economic management. He demonstrates that debates over public finances are not just technical issues best left to specialists, as many politicians suggest, but are deeply connected to our fundamental political priorities.

Requiring no prior economic expertise, The Debt Delusion serves as an ideal introduction for anyone looking to cut through the rhetoric and misinformation prevalent in political economic debates, and to become a well-informed citizen.