A nation like the U.S. with a sovereign currency that borrows in that currency and allows that currency to “float” is nothing like a household when it comes to budget.
Honest economists can be a great help to the world, unfortunately the orthodoxy is more concerned with defending their lofty station than finding solutions.
Calvinball is a mythical game without rules. Academic debates shouldn’t be a game of Calvinball.
The orthodox economic attack on MMT should be a ‘slam dunk’ – if orthodox economists were correct about MMT.
MMT is “obviously true” – the orthodoxy’s goal is to keep that truth from the public.
Stop and consider how devastating these observations are for neo-classical dogmas about market choice, private market discipline, and efficient markets.
“Lawfare” is a word few Americans understand, but people in many other countries have bitter experience with the pathology. The word means waging war on democracy by perverting the law into a weapon to against your political opponents.