MMT Fatal Flaws: Why Feed an Inferior Machine?

I've been reading a bit about Modern Monetary Theory lately, and one argument I've seen a few times is that inflation and taxation are merely methods to transfer goods from the "private sphere" to the "public sphere."

It's worth noting that this argument misses a major economic point, so I'm going to break down the mistake that the MMTers are skirting around in an attempt to hide the damage of what they're trying to encourage.

References:

1. Pareto optimality https://mises.org/mises-wire/rothbardian-welfare-economics

2. Mises's Calculation Problem https://mises.org/library/book/economic-calculation-socialist-commonwealth

3. Hayek's Knowledge Problem https://mises.org/mises-wire/socialism-calculation-problem-not-knowledge-problem

https://www.econlib.org/library/Essays/hykKnw.html?chapter_num=1#book-reader

4. Public Choice Theory https://mises.org/mises-daily/can-governments-function-markets-austrian-insights-public-choice-theory

https://mises.org/library/book/bureaucracy

Show notes can be found at: https://marginalnonhermit.com/?p=537

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