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MMT teaches that it's ethical to remove the constraint of borrowing and taxation in fiscal planning. Why worry about borrowing and taxes, just print money and all will be well, they say. There's a reason it is illegal for individuals to print their own money; it's theft. Recall that small towns that had a gold rush, many of the vendors servicing gold minors raised their prices to levels that are actually on par, if not higher than, prices today, and this was in the 19th century. That happened because there was a huge influx of currency ( gold) in the immediate vicinity, which caused prices to rise. Printing money will do the same thing to a small community. It will do it to a nation, as well. Witness the hyperinflation of Germany in the 20s. It happened in Argentina, and other countries, as well. If it's theft for you to print money, as a matter of principle, it is theft when the government does it, as well. Sure, it's legal when the government does it, but it's theft, nevertheless, because true wealth is a resource, and you cannot create a resource out of thin air. Printing money, if continued faster than the rate of GDP, will result in inflation, and inflation is a transfer of resources ( wealth ) from those who cannot hedge to those who can hedge and the government. When the government prints money, a process called QE ( quantitative easing) in my view, it should only be done to prevent deflation, but the government does it to cause a small amount of inflation, and in my view, all inflation is bad, even a little bit. And, MMT people seem to think that removing the constraints of taxation and borrowing in fiscal planning is ethical. No, it is not. MMT is fringe economics, therefore, and should be abandoned.