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It occurs to me that the primary motivation for politicians to give MMT any attention is because it ostensibly enables their otherwise impractical spending plans, due to the scale of spending proposed in policies like Medicare for All (M4A) or Green New Deal (GND). The interpretation undertaken by these politicians is frightening, at least to me, since it seems like spending that is unchecked.

I can't help but think that rather than starting with a principled look at macroeconomic theory, this is really just politicians figuring out which theory or economic "camp" enables them, and then throwing their weight behind it. In today's age of populism both on the left and right of the American political spectrum, I am extremely wary of proposals for such widely-scoped and fundamental changes to be undertaken just because they have received wide attention very recently. After all, MMT is not new - it is a rehash/repackaging of principles that have been studied in economic theory before.




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