E MMT Is A Social Agenda - Not A Financial Solution

Ms. Kelton points out that budgets and deficits are items of shared concern among almost all members of Congress, regardless of political persuasion. She also recognizes that "Congress has the power of the purse" and "if it really wants to accomplish something, the money can always be made available."

If that is the case, and if "spending or not spending is a political decision" then the question is whether MMT is fundamentally applicable, workable and justifiable on an apolitical basis.

How we think about spending, taxing and deficits may well be outdated and unnecessarily restrictive. Does MMT offer a better alternative? Or is it a Trojan horse for social programs of choice?


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Kelsey Williams is the author of two books: Inflation, What it is, What It Isn't, And Who's Responsible For It and  more

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William K. 1 month ago Member's comment

A portion of "MMT" smells a bit like socialism, at least from where ai stand. And that wise lady, Margret Thatcher, has pointed out that pesky problem that always exists with socialism, which is that "eventually you run out of other people's money", and at that time things become difficult.

So we have assorted government programs and mandates to solve all of the problems caused by governmental errors and the problem of greed.

Of course there is one place where it all works quite well, but the borders are rather hard to cross and the roads are mostly closed.

That is the Kingdom Of Utopia. ALL of the theories actually work there. And the unlimited source of funding is the production tax on their mining industry, whose sole product is Unobtainium, an incredibly useful element that is, unfortunately, quite difficult to get.