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Keynes’s theory of output as a whole is more easily adapted to the conditions of a totalitarian state

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69% Informative

Modern Monetary Theory promotes vigorous exercise of the state’s ability to print and spend.

Rudolph Kohn : The power of the federal government to print as much money as it wishes and to spend that money expropriating whatever private goods it desires is a loathsome fact.

What MMT demands is the power to arbitrarily tax wherever, whenever, and however much it decides on a whim, with no political consequences, and no extended debate.

Even worse, this power would necessarily mean no responsibility and no accountability.

The logical end point of any state wishing to implement MMT policy suggestions is totalitarian control of the economy.

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