Some nuggets from the post. Subscribe if you'd like to read the entire thing (it's long).
"As governments embraced the use of robust fiscal policy, a growing number of commentators started to assert that 'We Are All MMTers Now'.”
The problem is that too many people still think MMT is about "printing money" to pay the bills. It isn't!
Can we blame "MMT" for the run-up in inflation? Of course not.
Should go without saying, but I went ahead and stated the obvious.
"Alongside the debate over what caused the current bout of high inflation is a debate about how to resolve the problem."
Does MMT require a tax hike to fight inflation? No, and that was *never* the MMT solution.
So what *is* the MMT solution?
It depends on the diagnosis!
"There is no one-size-fits all policy solution in MMT because every inflation is different. As my husband (a history professor) recently put it, “If you’ve seen one inflation, you’ve seen one inflation.” And that’s a point that Fed Chair Jerome Powell seems to appreciate."
/end
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