This is the paper I will give at this year's System Dynamics conference in Bergen, Norway, on August 4-8 2024. It should be of use to anyone trying to argue sense with politicians.
Abstract
Modern Monetary Theory (MMT) is a non-mainstream economic theory that contradicts conventional economic analysis of government debt and deficits. We use the system dynamics program Minsky to develop a mathematical model of MMT. This model shows that the core tenets of MMT are correct, and Neoclassical arguments about government debt and deficits are wrong.