, 4 tweets, 2 min read Read on Twitter
Good point by @jbarro about MMT:
nymag.com/intelligencer/…
I find that MMT proponents tend to imply - but only their most dedicated, aggressive internet trolls explicitly state - that inflation is an impossible thing, and not worth worrying about at all.

And given recent experience in America and Japan, people will believe it.
BUT, as Barro notes, MMT is helping push back against the more entrenched and even more intuitive fallacy of austerianism.
But really, MMT is a motte-and-bailey.

Bailey: "Debt never matters wheeee"

Motte: FTPL
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