A brief critique of Stephanie Kelton's book on MMT.
It is not wholly objective. One reviewer writes "If you are looking for a balanced evaluation of Modern Monetary Theory this is definitely NOT the book for you. It is a distortion and misrepresentation of the ideas put forward in Kelton’s book. To take one example from P14 of Wenzel’s book; “The short one minute elevator explanation of MMT is that it calls for the printing of money to solve all the world’s economic ills.” Yet Kelton herself writes onP3 of her book; “Do I believe the solution to all our problems is to simply spend more money? No, Of course not.” Again on P37 she notes regarding the government financing its expenditure through the creation of new money; “Does that mean there are no limits? Can we just print our way to prosperity? Absolutely not. MMT is not a free lunch.” To give a second example Kelton‘s advocacy of increased taxes on the rich is dismissed by Wenzel(P30) as “a move in the direction of pure Marxist egalitarianism.” Where to stop as there are so many other examples of Wenzel's nonsense?"