To quote Blair Fix whom I support with a subscription: "I’ve always been baffled why ‘modern monetary theory’ is called a theory. I don’t mean this in a disparaging way. As far as theories of money go, I think modern monetary theory (MMT for short) is the correct one. But having a correct theory of money is a bit like having a correct theory of traffic lights."
I worry that MMT may become a new religion with its priests obscuring the obvious.
MMT's basic premises should be recognized as axiomatic, thus not needing elaboration.
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At one level MMT is stone cold simple.
To quote Blair Fix whom I support with a subscription: "I’ve always been baffled why ‘modern monetary theory’ is called a theory. I don’t mean this in a disparaging way. As far as theories of money go, I think modern monetary theory (MMT for short) is the correct one. But having a correct theory of money is a bit like having a correct theory of traffic lights."
I worry that MMT may become a new religion with its priests obscuring the obvious.
MMT's basic premises should be recognized as axiomatic, thus not needing elaboration.