Rational and necessary governmental spending for needed infrastructure etc. is a crying need, no doubt about that. However, in modern economies mere fiscal stimulation is inadequate policy. We need to make the transformation from the fetish of employment to a truly fertile and freeing society of constructive purpose including work for pay if it is desired and available.

Also, MMT is reality, but so is human action. Monetary policy must have both a costless way of increasing individual incomes (a universal dividend) and a means of not only preventing inflation, but creating retail price deflation (a 40-50% rebated discount at retail sale). These two mechanisms are the anatomy and component parts of a stable macro-economy. Without both of these as policy, businesses will inflate their prices, if not immediately then very shortly afterwards…. because they see additional demand is present….simply because they can, and because there is no gracious yet effective policy to counter that natural trend in a profit making economy. So, if such policy is not implemented incomes and profits will erode and the regressive forces in society will be able to (correctly, but deceptively) say: “See, I told you all along that printing money was going to be inflationary.”

So let’s avoid that by having both fiscal stimulation and smart and completely real monetary policies for modern technologically advanced AI economies.