Stephanie Kelton

OK, so, it's an eye-opener. It's also very US-centric, although it does touch on similarities with the UK, Canada, Japan and differences with the Eurozone. Whilst it makes sense that it is US-centric (the author is American after all), I think it would help with the understanding of the topic as a whole to retain that wider perspective.

For example, if the premise is that the US has the natural resources and labour to spend a lot more than it does currently without increasing inflation, is that also true of other countries? How is that limit evaluated and determined? And how does MMT apply within the Eurozone, where countries aren't directly sovereign?… (més)

Some interesting aspects, but some blinding fallacies as well. What happens on the world currency markets if we buy into the myth and (while keeping inflation in check) exponentially increase the deficit while no other major country follows the same policy? Where is the discussion on an upper band to servicing the debt? At what point does a denomination from a country that is a currency issuer become fools gold? No discussion on default of debt, what can lead to it and what MMT has to say about it. Has no currency issuing country ever defaulted on its debt? Would have liked to have brought into the discussion another country such as Argentina. The concept of the national job guarantee program is unfeasible -- you couldn't 'fire' anyone from it, so you end up paying people multiple amounts more for zero work than the benefits they are currently receiving and have a bloated governmental agency costing billions more to administer it.… (més)