Modern Monetary Nonsense (“Theory”)
If you’ve talked to the average modern monetary theorist, at least laymen, you will quickly see that they constantly say things that are technically true but effectively false. For example, I constantly hear that a country with its own currency can’t default on its debt. While that may technically be true, it’s effectively false. In other words, the conventional wisdom is that there will be negative consequences for a country if they ignore their debt. I don’t know if academics are actually making such silly points as, “Have your own currency? No problem”.