An Actually Accurate Criticism of MMT
MMT is Narrow in Scope I've been discussing on twitter of late, how I would like to move past the "MMT" label, in discussing economics. The problem is not that MMT is wrong or flawed, but that it is only concerned with a specific set of issues related to public finance. Furthermore, it relies on a somewhat simplified "money story", which I believe is useful for understanding how money works, but which is ill suited as a more general framework to understand political relations and economic development. The problem with the MMT money story, is that it starts with taxes, and not the issue of "what is property?". I think this issue of what is property is more important politically and socially, but talking about money in terms of taxes is the quickest way to get an idea of what money is, and what function it serves. So it is not that I find the MMT money story flawed, on the contrary, only that it is limited by its focus on money. If your goal is expl