MMT can either address operational realities, or analyze a chartalist system. But it cannot do both, because the operational reality is that we do not have a true fiat currency and are not operating in a true chartalist environment.
There may be moves away from this operational reality that lead to full employment, a more just economic system, and greater price stability. There is good evidence that a highly useful move would be to change to a true fiat currency system.Clint Balinger
MMT can address operational realities or analyze a Chartalist system. But it cannot do both.
Seems that Clint is confused about this. MMT describes the existing fiat system and shows policy makers how to take advantage of the policy space it affords in order to harmonize the trifecta of growth (production and productivity), employment and price stability.
