MMT is the 'right to coin'

Economist are having a hard time understanding MMT. The way to understand MMT is to price the 'Right to coin'. No economists, no banker that I know of can price the right to coin.  As long as that remains un priced, or regressed, or analyzed, then no one understands central banking.

We exercise the right to coin, it is not inactive.  W exercise that right as often as the US Monetary History has chapter headings, namely once a generation.  This is a perfectly viable mathematical concept, a generational impulse response well defined in standard probability theory.

And the theory is perfectly applicable, we just wait until the generational account balances become observable, and the meeting of the elders happen.