Modern Monetary Theory is a permission slip governments write for themselves. The core claim MMT makes is that a sovereign currency issuer cannot go broke and therefore faces no real budget constraint, only an inflation constraint. Stephanie Kelton and Warren Mosler built careers on this. Zimbabwe, Argentina, Venezuela, and Weimar Germany ran the same experiment before they published a word. Prices coordinate billions of decisions simultaneously. When governments print money to fund spending, they corrupt that signal. Every dollar the Federal Reserve creates without a corresponding increase in real output transfers purchasing power away from you to whoever spends the new money first, which is always the government and its contractors. MMT advocates admit inflation is the constraint, then propose that Congress simply tax the excess money back. They trust the same institution that runs $1.8 trillion+ deficits in a fiscal year to accurately diagnose inflation and surgically remove purchasing power before it destroys your savings. The calculation problem identified in 1920 is this: central planners lack the price information needed to allocate resources efficiently. MMT does not solve this, it hands a sledgehammer to the institution destroying price signals. Capital formation requires real saving. You cannot print your way to a higher standard of living, and no journal article changes that constraint. Taking wealth away from productive people and handing it to bureaucrats always ends in more poverty, not less.