I find MMT flawed at a philosophically fundamental level. Leaving aside all the technical issues of MMT like debt, deficit and surplus; MMT and fiat systems in general do this:
- exacerbate unrestrained greed of humans.
- seek to control the level of economic production, which works but only temporarily, is not sustainable, especially when production increases are sought at all times.
- in seeking to control economic production, it eventually breaks it, leaving two problems, a broken economy, and a worthless currency which no-one wants, chiefly other countries.
Austrians are smarter.
@trent3727 you should be long gold and long S&P. Gold is stealthily accounting for the ever eroding value of the dollar. Meanwhile MMT pushes asset prices higher, prays the commercial banks somehow never stuff up, and when everything breaks just blames consumer demand.
