I ask the followers of MMT, and like-minded thinkers, to switch their primary argument from deficits, debt, taxes, money creation, banking laws and other inanimate concepts, and instead humanize our economic problems by focusing on the gap – that historical source of human misery and domination.
The populace cannot and will not understand why deficits should be larger and “debt” should not exist at all. This is not what they know about deficits and debt.
The populace cannot and will not understand why taxes don’t pay for federal spending, nor why the government does or does not create dollars by spending dollars. This is not what they have been told about taxes and spending.
All the discussions of federal banking laws, Monetary Sovereignty and seigniorage will not penetrate.
What the populace does understand and believe is the gap – the fact that the rich are getting richer and the poor, by comparison, are getting poorer.
Using the gap as a starting point, we can segue into additional facts:Monetary Sovereignty
–MMT: To make your case, begin with what people already believe
Rodger Malcolm Mitchell
We essentially agree on policy, now we need to work on strategy.