I really don't get #MMT. Can anyone link to a short yet thorough explanation about how why it won't create hyper inflation?
@kpeace MMT is a description of the system we have, it is not a set of policies or tools. When viewing things through an MMT lens you might come to a different conclusion about the effect of a particular policy than if you came from the classical school - it makes certain things like governments running a deficit look more attractive.
@kpeace I think you are combining two things here - MMT describes the rules of the game. Given these rules many policies logically follow that are different to those that would be derived from conventional neoclassical rules. Sure many authors run these things together, but it is important to understand they are separate
@admann I think calling MMT "describes the rules of the game" is a bit misleading. It is an economic theory. From that economic theory you can derive policies. Many of these policies oppose the policies that are derived from modern / Austrian / Keynesian economic theories.
I find the attempt to hide the fact that MMT is an unproven economic theory as disingenuous.
@admann I have listened to quite a few lectures and read quite a few papers on #MMT. One thing I can tell for sure is that it's NOT "a description of the system we have". It's an economic point of view which calls to change the policies that we have right now.