Yessssss, thissssssss — hallelujah, Sweet Reason! — ‘“Congress does not have to borrow—that’s completely optional. Instead the government can let people hold cash. That way there would not be fights over the debt and debt ceiling,” Kelton said.
Critics of MMT often argue that such policies could lead to hyperinflation. But Kelton does not see that as a threat in the U.S.
“Capacity utilization is at 75%, while the broader unemployment number is still pretty high and workers have no bargaining power. Inflation will not rise if wages continue to stagnate,” said Kelton.’
Let’s have more mature conversations about how to ENGINEER the economy we want, please!