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MMT amounts to the belief that a country can simply print money to solve all its problems without consequence. Given the high inflation we have had this year, I do not see how anyone can say with a straight face that the money printing is “harmless”...
This is where opinions go too far. That is not the belief of MMT, that is the belief you think MMT backs for those who choose to use it that way. MMT is an idea that says carrying a higher sovereign debt is not the issue that some portray it as and that the whole deficits matter conversation has little empirical evidence in modern times that they matter. There is nothing in it that says you can "print" indefinitely or that any level of deficit is acceptable. If some on the far left want to make that case that's their choice but its not part of the theory. In any case its a theory, its not a provable math concept so of course many economists will rail against it because it calls into question their precious theories that have not really played out as they believed.
This is where opinions go too far. That is not the belief of MMT, that is the belief you think MMT backs for those who choose to use it that way. MMT is an idea that says carrying a higher sovereign debt is not the issue that some portray it as and that the whole deficits matter conversation has little empirical evidence in modern times that they matter. There is nothing in it that says you can "print" indefinitely or that any level of deficit is acceptable. If some on the far left want to make that case that's their choice but it's not part of the theory. In any case its a theory, its not a provable math concept so of course many economists will rail against it because it calls into question their precious theories that have not really played out as they believed.
My bank accounts and stock market holdings numbers are very definitely worth something!
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