1dullgeek on Nostr: I have been getting bombarded with MMT by multiple social media platforms. Do people ...

I have been getting bombarded with MMT by multiple social media platforms.

Do people who espouse that idea think money is a resource, that money is capital?

Money is access to resources and capital. It isn't resources and capital.

So when people say that debt isn't a problem, that's it's merely the accounting side of money being spent into the economy, they act as adding money to the economy is a good thing.

I disagree. When the economy produces resources and capital, that's good, but, when additional money is arbitrarily created into the economy, it doesn't magically create more resources and capital. Instead that new money chases existing resources and capital. Driving up their price. This is inflation.

The MMT response seems to be that they can control inflation by removing money via taxation.

But in doing so, they're replacing the daily purchasing decisions of 100s of millions people with a few politicians making government spending decisions on their pet projects.

Politicians, of course, are big fans of that. Maybe that's why it's turning up in all my social media platforms.