Nov 9, 2020
I read Kelton's book "The Deficit Myth" and it was superb at explaining the MMT approach. I always considered myself Keynesian but most of my views fit exactly within MMT and now I have relabeled myself.
I also came to realize that both classic economics (generally espoused by Republicans with a dose of Say's Law on top) and Keynesian economics (generally espoused by Democrats) are both rooted in hard money system under which they developed. As we no longer have a gold standard, viewing economics from their standpoints are irrelevant. MMT answers most of the questions about the modern economy especially in the last 20 years.
I wrote this article on Medium after reading Kelton's book.
