In theory, MMT would not necessarily invoke hyperinflation because it proposes using increases in tax rates to curb it. Good luck with that, especially in the U.S. In the midst of any significant inflation cutting disposable income is a political nonstarter. That is what allowed the annual rate of inflation to get to about 20% in the U.S. in the late 1970’s — before the central bank quashed inflation by inducing a recession.

There is another alternative: an economy in which the central bank would pay an income directly to eligible citizens (such that any number of citizens could receive it) and directly fund government, eliminating the need for taxes and public debt. The total of all of that money would be the supply of money for the economy. To prevent inflation money would be returned to the central bank, but, unlike taxation, not before it could be used for purchases and investments (at least once). Individuals and businesses would be allowed to retain plenty of money, based on income. “A Call for a (Further) Central Bank Revolution” or “Re-thinking the Economy’s Fuel System,” both here in Medium