YouTube has the video How an MMT understanding informs fiscal stimulus design – Professor William Mitchell.
In this presentation, Professor William Mitchell will develop a set of criteria for assessing the likely effectiveness of a fiscal policy initiative. This particular crisis is unusual in that it combines supply and demand elements and government-enforced closures. In that sense, the design of the fiscal policy intervention is particularly difficult.
The presentation will go through a number of desirable fiscal options to match the specific situation using this framework.
We will also discuss why we should not worry about the size of the fiscal deficits that are required to overcome the medical and socio-economic problems created by the coronavirus crisis.
This talk answers a lot of practical questions about policy implementation through the lens of MMT. I like the way he explains what MMT tells you, and what your value system says you can do with that knowledge. MMT itself does not dictate policy. MMT tells you what you can do. Your value system tells you what you want to do. Rational people try to tailor there choices of what they want to do to fit what is possible to do.