5.2.2 Capacity Development

From a regenerative standpoint, economies are a way by which societies and countries generate more and more wealth. The ability of biological systems to grow and expand their own vitality, feasibility, and readiness to evolve is referred to as riches in this context. They can then respond to urgent demands that arise for both themselves and a bigger world. The question “What is money for? ” will come to mind after reading this overview of economies. Can it help society advance rather than hinder it? The work of economist Stephanie Kelton, particularly as presented in her 2020 book The Deficit Myth: Modern Monetary Theory and the Creation of the People’s Economy, provides insight into these issues. She claims that calling the difference between federal spending and federal revenue the “national debt” confuses economists, decision-makers, and the general public and causes them to get preoccupied with worrying about unimportant metrics.