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The words “extreme” and “massive” are subjective. MMT claims that the best way for a monetarily sovereign government to maintain aggregate spending at full empl
by dools 5y ago
The words “extreme” and “massive” are subjective. MMT claims that the best way for a monetarily sovereign government to maintain aggregate spending at full employment levels is to hire anyone willing to work but who cannot find work in either the private sector or the permanent government sector.
Also note that the work of legal historians such as Christine Desan who are not affiliated with MMT economists concurs with this analysis.
Also note that most mainstream economists do actually agree with the tenets of MMT when individually stated but base their disagreement on a deliberate misreading/misstatement of MMT which they then proceed to criticise.
That taxation is sufficient to drive demand for a currency is not contentious, that it is necessary is unconfirmed.