I appreciate that evenhanded evaluation of MMT. I have no doubt you will be hearing from its unconstrained supporters.

I thought you might be interested in another monetary alternative that I have (fully) developed. If it matters, I do have an M.A. in economics.

It is more revolutionary than MMT, but it would not require any changes to the institutional structure of the existing economy. It could be implemented by a central bank.

The idea is an “allotted income.” It would not be paid to everyone, but would be available for an unlimited number of people. [The income would be limited to citizens, but that is consistent with limiting political rights to citizens; any nation could adopt this paradigm.] The money for the income would be created as needed. The total of that income would form the supply of money (as currency) for the economy. The same process could be used to fund government — all government, forever, at the current per capita rate of total government spending — without taxes or debt. [For the central bank to fund government directly like that would require a change to the law.]

The result would be a fully self-regulating economy (with built-in safeguards against inflation) with no unemployment or poverty (at no cost to anyone, without having to redistribute anything) as well as no taxes or public debt and increased sustainability (even without additional regulations or any changes in behavior). Otherwise, there is little to recommend it.

“A Call for a (Further) Central Bank Revolution” here in Medium