The MMT-and-Bailey Fallacy

One hears this kind of thing from modern monetary theory (MMT) advocates whenever their economic theories are attacked: “We say not spending constrained,” they grumble, “We don’t mean ‘now spend’.” However, what politicians hear is that they can have anything they really want because they can just print the money for it. “It’s a fact,” an MMTer might say. “Sovereign governments with their own currencies can never go bankrupt. They can always print more money.”

John Klyczek

John Klyczek has an MA in English and has taught college rhetoric and research argumentation for over eight years.