April 9, 2019
The mainstream attack on MMT is nothing less than an attempt to disguise the glaringly obvious error at the center of the mainstream view of economic thinking. Mainstream economics is a nihilistic theory devoid of moral anchor. Mainstream economics ceased to explore the operation of the real economy decades ago and has become an intellectual exercise that assumes the organization of modern society is justified simply because that is how it is. While some mainstream economists may want to tinker around the edges to make the system more fair few really want to call into question the organizing realities. The biggest reality they do not wish to face is that money is a symbolic creation rather than an actual productive resource.