My point in bringing up MMT, is primarily, that the left is co opting MMT and one needs to understand it because it is going to become more widespread, in certain circles. Bernie Sanders named Stephanie kelton as chief economist for his campaign, an MMTer. Hence it is becoming more "mainstream" (in certain political circles) far more than Austrian economics is becoming "mainstream". the main tenet of MMT is this from wiki.

"The key insight of MMT is that "monetarily sovereign government is the monopoly supplier of its currency and can issue currency of any denomination in physical or non-physical forms. As such the government has an unlimited capacity to pay for the things it wishes to purchase and to fulfill promised future payments, and has an unlimited ability to provide funds to the other sectors. Thus, insolvency and bankruptcy of this government is not possible. It can always pay".[1]


The above statement is a true statement, few reasonable people would argue that fact. But theories can be bent to shape political agendas and the left is and will bend MMT to there own agenda.