MMT is neither modern (its basically Abba Lerner's "functional finance" from the 40s), nor it's even a coherent theory. MMT fans don't like to draw up models th

MMT is neither modern (its basically Abba Lerner's "functional finance" from the 40s), nor it's even a coherent theory. MMT fans don't like to draw up models that can be understood by other economists. With functional finance you knew exactly where Lerner stood and his claims were challenged with real-world data and the theory faded with relevance. With MMT if you try to challenge them in any way they will claim that they are misunderstood - the "not a true Scotsman fallacy". This is why MMT is ignored in most academic circles - it doesn't bring anything new, and neither it does in a scientific way and understandable way. There is also the question of politics - there is a perception that mainstream economists are right wing that is why somw turn to "heterodox" economics. Of course this is non-sense, and mirrors libertarian obsessions with Austrian school economists. Mainstream economics can inform both left-wing and right-wing policy making, just fine.