Good description! Just to add, proponents of MMT are also proponents of a Job Guarantee that I think is very interesting and could even be used for a post revolution society transitioning to socialism (on how to get rid of private property, one of the thing Mao struggled a bit with).
To expand on this, IIRC their support of a Job Guarantee comes from the idea that (a) it's a way to use deficit spending to better meet everyone's basic human needs while (b) getting some production back for the money, which is good for society and helps avoid the risk of inflation.
Good description! Just to add, proponents of MMT are also proponents of a Job Guarantee that I think is very interesting and could even be used for a post revolution society transitioning to socialism (on how to get rid of private property, one of the thing Mao struggled a bit with).
To expand on this, IIRC their support of a Job Guarantee comes from the idea that (a) it's a way to use deficit spending to better meet everyone's basic human needs while (b) getting some production back for the money, which is good for society and helps avoid the risk of inflation.