Economics only holds if the assumption of economics hold enough to be a reasonable approximation of reality. They most certainly don't if you're printing 1000x

Economics only holds if the assumption of economics hold enough to be a reasonable approximation of reality. They most certainly don't if you're printing 1000x more fiat every year. The weakest assumption of MMT and the reason it isn't considered a school or economics is that issuing government debt won't affect private sector debt. >The government prints as much of it as it wants This don't think it's quite fair. MMT thinks that the amount of money it would take to reach full employment is the maximum limit of which you can issue debt. I don't really see how that's much different from just issuing infinite debt though, especially for a case like Venezuela.