"as long as it doesn't cause inflation, it does no harm."
@ROKCHICK I'm all for exploring MMT and even introducing it but I think it is a push to say it does no harm. It will have myriad effects, many negative. The question is whether it is a better system than we have now. Its hard to see it being worse.
IMO, we don't need to reinvent the monetary system though, just return to what worked to grow the wealth and social mobility in the post-WW2 period. We already know what works, the will to return to those settings is what is missing. MMT could almost be seen as a failure of economics to believe in itself.
The key point is that our politics and therefore economies have become captured by large financial interests. Even if you go to MMT, it will also be captured and contorted into a form to serve the self-interest of private financial manipulators. Unless we can restore our democracies, we'll be up against it until there is an event that causes a great reset.
