If Bernie and AOC are for it, and Buffet is against it, it’s pretty obvious it’s fucking garbage.
So this is the new darling of AOC and the left, because it's how they are going to pay for all their free shit. Basically just print money. It's a fringe theory, and not one promoted by anyone with much pedigree or accomplishment.
There's a lot described in this article that are theoretical assumptions that are simply false. Like businesses only make investment decisions on growth prospects - no, most use some form of IRR/NPV, of which interest rates are a fundamental factor.
Here's the part that's alarming (and, I'd point out, blaming inflation on excessive pricing power of businesses is also wrong): "The more actively we regulate big business for public purpose, the tighter the full employment we can achieve,” In other words - burying the lede - this is communism repackaged as a "cutting edge" economic theory.