At the end of the day, the purpose of economic theory is to explain reality, to identify causality relations, and to enable us to understand why people behave the way they do. So, it is necessary to consider the insights of the MMT, the arguments that those insights are based on, and the evidence that supports them to see whether that theory is superior in explaining reality. After all, Nicolaus Copernicus was (almost) alone when he made the scientific revolution. The majority opinion is not necessarily right only because it is held by the majority. Nonetheless, being in the minority, or rather alone, does not necessarily mean that you are wrong.
So, all of them are wrong and MMT and its representatives are right. Just for the record, these myths are conventional wisdoms, insights accepted by most academic economists worldwide, all mainstream economists, and virtually all decision-makers, wither elected representatives or civil servants in the central banks and ministries of finance.
It is Modern Monetary Theory (MMT), humbly referred to as a Copernican revolution by the author, that will dispel all these myths. According to Stephane Kelton, the author of the book, it is about widespread myths and the way that these myths can be overcome. According to the title, this book is about a theory (a monetary one) and about a policy proposal (improvement of resource allocation and speeding up economic growth, with perhaps some redistribution).
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