Predictably, MMT catches immediate heat in the top comment, but two good replies stepped up:
The MMT folks think this is business as usual
MMT folks generally advocate that inflation is the way to measure if the spending is “too much” and argue that spending should generally aim to improve productivity (i.e. increase gdp) to minimize this issue (e.g. spending to build infrastructure so people can get to work is productive vs spending so people stay home is inflationary).
There is this pervasive idea that MMT promotes limitless spending and I’m not sure where it comes from, what they actually preach feels like a reasonable way to evaluate government spending to me.
and
MMT is descriptive, not prescriptive - the economy follows MMT whether you agree it does or not. Separate from MMT, are the ways you would expect would be good ways to run an economy if you believe the economy follows MMT (which it does).
IMO, we’re basically screwed either way but austerity is the worse option. We should burn hot on green infrastructure, and offset with wealth tax.
We have no actual productivity gains at the moment, just financial speculation that’s likely to collapse. Inequality is making inflation and living standards worse, and slowing down the gains we could have.
Green infra is basically the golden ticket. If we didn’t have a massive fossil fuel sized hole in the economy, with a cheap and easy solution available, we’d have no chance in hell of getting out of this death spiral.






“Where” is a question that applies to the physical world. The dream people are constituted of something more fundamental than matter.