again, the Communists have you covered. There's this awesome bit in the book where Ms. Kelton takes every economist of the late '40s and '50s to task over their fear of deficits for believing that deficit spending would lead to insolvency in the future (again, this is a woman who never says "debt service"). She then laughs and points at them and says that the '40s and '50s were some of our years of greatest expansion without saying a single goddamn thing about the '70s. In that moment, anyway. Much later she uses the massive debt of the '60s as the reason for pulling out of Breton Woods but never once connects those two events together. The real dividing line between the MMTers and everyone else is that the MMTers say "we can do this without consequence" while everyone else argues about what the consequences are likely to be. I've seen any number of charts that indicate every rise in the stock markets since 2008 is directly tied to money printed by the Fed. We've had our inflation, it's just been in the NYSE, S&P and NASDAQ. But Ms. Kelton never touches that either.I want the government to buy me and everyone else in the country a mansion on 5 acres.
On a more serious note, I think the reason people started taking this garbage seriously is because the government has printed an ungodly amount of money since 2008 without any increase in inflation.