Economist warns Modern Monetary Theory is dangerous

There is NOTHING wrong with MMT itself; it is a tool that has served us well for the past 55 years. The issues with deficit spending are simple, the same as with any form of investment: is there a purpose for the spending that will have a RETURN ON INVESTMENT, or is it waste? Most of our deficit spending has been for wars of empire, and thus, like all war, it was wasted in destruction. If we use deficit spending for healthcare, or education, or infrastructure, it will return 7 to 10 fold in taxes and wealth creation over the lifetime of the individual citizens and the infrastructure itself. This is simple. Think good business. The difficulty comes in when the money is wasted or funneled into specific industries or contractors, to 'elect' corrupt politicians who over-pay for Military Contractors or just Government Contractors, or otherwise waste the money created as debt, then you are being self-destructive. The waste is what causes inflation; proper investment will create wealth that matches or is greater than the debt, and thus no inflation. Money is an idea, a concept, an intellectual tool; it doesn't exist in nature. We can create or destroy the currency, and thus inflate or deflate the value of the currency, as we choose.