MMT “is a mix of old and new, the old is correct and well understood, while the new is substantially wrong.”
The particular crises to which Keynes reacted were themselves the products of misguided government policies.
It is not true that a growing economy will lead to price inflation. A growing economy is an increasingly productive economy, and leads to dollars chasing a larger number of goods and services — causing deflation.
Hunter Hastings and Peter Klein discuss a special way of thinking about pricing that is helpful for entrepreneurs.
