I don't know that I would go that far. But I could be wrong. Perhaps the advocates have something to say on this.

First of all, this is a closed and secret forum that I haven't admitted a new member to in almost a year. Therefore you won't find one advocate for MMT here. The best we can do here is informed guesswork on the "pros".

I don't see any benefits except that MMT as a acknowledged policy position may de-stress the public about public debt expansion - a soporific to keep people from protesting or resisting or asking for change. MMT was probably invented to keep social order.

Secondly, discussing MMT as though it is an intellectually rigorous and engineered economic concept that is now in rollout phase - is a mistake.

MMT is not a "new" theory or concept. It is simply words plastered onto the way things have always operated in our debt based economy and justifying any arbitrary level of inflation.

MMT was probably in all likelihood retroactively constructed in order to make careless expansion of the debt appear to be a deliberate, well crafted framing with intellectual rigor.

I'm saying that MMT came after, not before. But it is also a concept that justifies doing anything with the currency. Just as TPTB are doing right now.

Germany during the Weimar Republic had MMT if you think about it.

Most economists going back decades don't believe that uncontrolled monetary expansion is a good thing. MMT says that it is.

If you say that MMT is a totalitarian mechanism for controlling the public is a stretch - I'd simply point out the consequences of MMT over a long period, and whether they are positive or negative for each party involved: the US gov; the Fed; the general public; the business community (all businesses.)

It seems to me that MMT guarantees that the only way to preserve personal wealth is investing in bubble speculations (housing, stonks, etc) or assets - precious metals, land, etc. So it's horrible for individuals and families unless they have the expertise to stay ahead - most don't - so individuals wind up being cratered economically. The gov and the fed? It creates a intellectualized moral justification for debt spending. They get off scott free. Business? Probably the least affected - they are squeezed by rising input prices so they raise their own output prices.

Not very abstract to see who benefits, cui bono.

If I'm wrong or seriously off-base on the provenance of MMI, I'll eat my shorts.