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overtheedge
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The Great Fallacy That Is at the Heart of Modern Monetary Theory - Jesse - Le Cafe Américain

Wow dude, you wound your tale all around the major fallacy in MMT, but missed the target.
Assumption #1
Sovereign government is a fallacy.
Sovereignty requires the ability of stand alone.
Government can NEVER be sovereign.
Which came first, people or government?
People can't create a sovereign that governs them.
The individual can NOT make themselves slaves.
So how can a sovereign government enforce its sovereignty over its citizenry?
Only by threat of force.
Using that definition, an armed robber must be sovereign over the victims.
We know that line is BS, ergo so is the concept of sovereign government.

MMT requires that government has the power of taxation.
The power to tax is NOT a right. Government has NO rights.
Government has authority that can be removed by the people.
If the people can remove authority from a government, then obviously the government lacks sovereignty.

Sovereignty requires absolute authority for the government to do as it damn well feels like.
Most countries have some sort of Constitution that supposedly limits a government's powers.
Obviously if a mere piece of parchment limits government powers over a nation's internal affairs, then it can't be sovereign.

If you begin with a faulty initial assumption, everything that follows is logically false.
Therefore any statement using this phrase, "sovereign government" is a logical fallacy.

Still a good article covering a real important theme. Thanks.

Commented 3547 days ago

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Beginning of the headline :As with all fallacies, Modern Monetary Theory rests on some real insights into a matter, but seems to hinge on one or two key assumptions that are more matters of faith that historical or even practical experience e. In this is it can become not so much an economic theory, as a cult belief. I do not say that lightly. It can become a cult because it is a matter of believers and unbelievers, those who will drink the koolaid, and those who cannot. And those who cannot must be ignored, because... Read More

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