An Austrian Critique of the New MMT Documentary

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Stephanie Kelton is the star of a new documentary film touting the alleged brilliance of Modern Monetary Theory (MMT). Murphy gives a comprehensive critique of the film, covering the flaws in its theory, history, and policy recommendations.

Finding the Money Documentary: https://Mises.org/HAP447a
Bob's Book on MMT, Understanding Money Mechanics: https://Mises.org/HAP447b
Radford's Paper on P.O.W. Camps: https://Mises.org/HAP447c
The Upside-Down World of MMT: https://Mises.org/HAP447d
Bob's Article on Debt and Future Generations: https://Mises.org/HAP447e

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Chapters
00:00 Introduction
01:59 The MMT Argument
08:10 Who is Stephanie Kelton?
11:10 MMT's Convincing Strategy
17:36 How Kelton Came to the MMT Side
21:28 The Biggest Flaw in the MMT Argument
31:04 Non Sequiturs Snuck Into the Documentary
39:17 Kelton's Claim of Debt as a Financial Asset
57:30 Do Recessions Follow Federal Budget Surpluses?
59:55 Why Does Gov. Need to Borrow if they can just Print?
1:16:04 MMT Doesn't Understand Money
1:32:45 Conclusion