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The core of MMT economic policy is the abolition of government bond markets and the state replacing existing unemployment benefits with a "job guarantee" intend
by notahacker 2y ago
The core of MMT economic policy is the abolition of government bond markets and the state replacing existing unemployment benefits with a "job guarantee" intended to act as an alternative endogenous economic stabiliser, both policies which precisely zero countries have adopted. Policymakers are largely oblivious to MMT and certainly don't use it to justify their social policies, and "helicopter money" came from the opposite side of the political/economic spectrum decades earlier.
In that respect it's exactly as heterodox as Mises-style Austrian economics, which has similarly failed to persuade mainstream conservatives who share similar ideas about small states of its core ideas about gold standards and the futility of economic modelling...