It seems that you are implying that "Modern Monetary Theory" has been adopted, if that's the case, you are totally missing the point. MMT it's a description (a

It seems that you are implying that "Modern Monetary Theory" has been adopted, if that's the case, you are totally missing the point. MMT it's a description (a theory that can be validated) of how the system works, not a recipe. Finally, after unavoidable evidence, people are starting to accept that this is how modern money really works (and have been working for quite a while). Now, we can have a conversation about what to do with it (I suspect that's a conversation many don't want to have), instead of talking about "public debt" and "borrowing from our grandchildren". By the way, most MMT economist recommend very different policies of what has been done, what is vindicated here is the "the state creates money and spends it into existence" only limited by inflation part. That doesn't mean that they recommend Quantitative Easing for instance.