I actually suggest reading some of the arguments between orthodox economists (Lawrence Summers, Paul Krugman) and MMT economists like Mitchell and Wray. It’s pretty clear that Krugman et al either have not read MMT thoroughly or just willfully misrepresent it. MMT is also creeping into the mainstream with more economists referring to it as “reverse Santa Clause”. That is, MMT is true but we can’t let people know about it (presumably because the public can’t be trusted to understand it and will think unbridled spending has no consequences).

If you’re interested here’s a live debate between Rober Murphy, PhD (Austrian economist) and Warren Mosler (one of the original MMTers).

While Austrian economics is technically heterodox, it relies on many of the same neoclassical principles as mainstream economics today. I think the discussion on interest rates is particularly enlightening.

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

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