Much as it pains me, it is clear that I will have to post about MMT. Walk into any pet shop and the resident galah is talking about it. (Apologies to PJK). It will be unpleasant but someone will have to disabuse these cranks. Give me space to build the stomach for it.
3 thoughts on “Modern Monetary Theory”
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Australian Actuary 
David – I’ve read a lot on this (too much!), as well as making my way through Kelton’s book (you should too – though I know it will pain you to do so). Still learning and digesting. But this article (including the embedded links) is as good a summary as I’ve come across.
https://www.advisorperspectives.com/articles/2020/06/29/modern-monetary-muddle
You might want to read up on it before you comment so you don’t sound stoopid. Start here and then go to the academics: https://fflorescpa.wordpress.com/2018/07/28/financing-economic-solutions-to-unemployment-and-accompanying-social-problems/
Yes, sounding ‘stoopid’ (who knew that was a word?) would not be good. But, I am well aware that the uninformed can demonstrate a lack of understanding by virtue of having a little learning. I would point to your website as a useful exemplar, a case study if you like. Proof, to be even more succinct. In summary, I would say that you have beaten me to it.