Cart leads horse

Note that although there is no financial constraint on the ability of a sovereign nation to deficit spend, this does notmean that there are no real resource constraints on government spending; this is the real concern that should guide policy, not financial constraints. If government spending pushes the economy beyond full capacity, inflation will result. A government can create all of the currency it likes, but there are finite supplies of natural resources, labor, and other productive assets that form the backbone of an economy. Put another way, money is not scarce, but real resources can be

An AOC supporter explaining MMT and the NGD.

How do we know when resources are constrained? Price rises, as the author noted. Why did price rise? Because your currency banker maintains the closest approximation to the velocity equations. Using our abstract tree model, the currency banker keeps the tree trunk round, and pricing works throughout the branches and roots, we get the Euler Force field via queue stabilization.

The MMTNDGers plan on making the tree trunk oval, for a while, and some ice be melted in the process. They have little method to predict if the tree trunk will get round gain, the velocity equations won't work well on an oval trunk.

In short, when money works it is a lot easier to count the melted ice.