Except governments are a “sine non qua” of market economies, and currency in circulation is always related to government debt. You’ve got everything backwards.

You are again missing the point that most money ‘actually’ in circulation is created by banks making loans. Those deposits are redeemable for government debts incurred by prior government spending on resources, labor etc. I don’t even understand what you’re trying to say. The government doesn’t just say “ok, here’s 1 trillion dollars so you guys can do stuff in the economy”. Even if that were the case, it would still be debt.

The sole function of this trillion plus issuance is to serve as a medium of exchange

I mean that’s just demonstrably false. The government isn’t running deficits to increase the money supply. It’s doing so to buy things.

How much MMT literature have you actually read? I’m not talking secondary accounts or critiques, I mean actual books and articles by MMT scholars.

Corporate accountant and former auditor with degrees in philosophy and accounting.

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