The excellent academic economist, James K. Galbraith, reiterates my thoughts on MMT versus Kenneth Rogoff

I’m not the only one:

… “deficits don’t matter”? I know of no MMT adherent who has made such a claim. MMT acknowledges that policy can be too expansionary and push past resource constraints, causing inflation and exchange-rate depreciation – which may or may not be desirable. (Hyperinflation, on the other hand, is a bogeyman, which some MMT critics deploy as a scare tactic.) [Source]

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