Trip —

Thanks for weighing in. I am not a straight-out MMTer but they do have some things right, especially, as you put it, the idea that “our monetary policy should focus on the right kind of spending, ie not tax breaks for the rich, but spending that actually creates employment and helps make up the demand gap.” We can fit that kind of policy within the kind of rules I recommend here: https://www.niskanencenter.org/we-need-new-rules-to-meet-the-fiscal-policy-challenges-of-the-year-ahead/