…the “Post Keynesian” label for himself) get mentioned, with final shoutouts to chartalism and functional finance, both well regarded by the MMT school (there is also a tour of nations…

…of production, even though in the “higher stage of socialism” generally labeled “pure communism,” the state is supposed to “wither away.” Capitalism is private ownership of the means of production,…

…from this, is a common MMT-driven misconception: that the private sector can only “save” if government runs deficits (and/or there’s a balance-of-trade surplus). This whole post serves to confound that understanding. Bank…