posted by gut
This demonstrates an absurd level of ignorance of economic history, but you've shown over and over you know neither the history nor fundamental theory. Japan, for one, proves you wrong....and I could rattle off probably 2 dozen other examples without much trouble. There's a mountain of empirical data of slower growth, higher inflation and higher unemployment with high public debt levels at countries that could print their own currency. The claim you made above is unequivocally false.
MMT is a quack theory that appears to be primarily promoted by socialists that know their programs can never be funded by taxes alone.
Provide some links if you are so confident. Ironically Japan is a good example that proves us right! Why are they still able to sell gov't securities at such low rates despite high amounts of debt? Sovereign currency. The Gut's of the world have been saying the end for Japan is imminent for over a quarter of a century and yet it remains a hugely prosperous nation.
The Japanese keep making mistakes like the impending sales tax hike to stupidly reduce the deficit. They need to increase the deficit with policies that will address The serious problems on the supply side with their aging population and unwillingness to have children e.g. something like huge child tax credits or immigration reform. Japan needs to go all-in. The persistent return to trying to follow the Gut's of the world's advice to close the deficit keeps holding them back.
MMT is gaining ground by the day. Marco Rubio just put out a paper in which he cited MMT founding economists. MMT allows for policies that cohere with both conservative and progressive values. Indeed, the American GOP has functionally been operating the federal gov't under MMT principles w/ conservative branding (tax cuts pay for themselves) since Reagan. Donald Trump has thankfully just dialed it up to 11 (save the idiotic trade war).
But hey Gut will go on proclaiming inevitable doom for the rest of his life and never change his mind like the false preachers who say judgment day is coming no matter how many times their prediction is wrong).