I don't think anyone's in favor of rampant money supply expansion like we've seen over the past decade or so, but I think you have to ignore or disagree with some pretty basic conclusions to be in favor of returning to the gold standard. Despite the potential negative effects, printing money seems to be effective in staving off the most severe effects of economic downturns. Evidence from 2008 and the coronavirus stimulus seems clear - you can fairly effectively prop up employment and demand without driving up inflation too badly.
And yes, I'm aware that the way that official inflation is measured is bad - but is it really terrible? Technology is definitely under-measured but it's also still relatively cheap. You can get a decent laptop that will last a few years for a couple hundred bucks. You can get Netflix or other streaming service that's very arguably better than for $100 a year. Healthcare and real estate are super jacked up (and maybe education) are super jacked up, but that's arguably due more to terrible policy and a fundamentally limited supply (God isn't making more land in Manhattan).
In theory MMT[0] sounds like this shady conspiracy to force the working man to buy more Coca Cola and Ford Trucks but in practice it turns out that unemployment is very painful and inflation isn't.
And yes, I'm aware that the way that official inflation is measured is bad - but is it really terrible? Technology is definitely under-measured but it's also still relatively cheap. You can get a decent laptop that will last a few years for a couple hundred bucks. You can get Netflix or other streaming service that's very arguably better than for $100 a year. Healthcare and real estate are super jacked up (and maybe education) are super jacked up, but that's arguably due more to terrible policy and a fundamentally limited supply (God isn't making more land in Manhattan).
In theory MMT[0] sounds like this shady conspiracy to force the working man to buy more Coca Cola and Ford Trucks but in practice it turns out that unemployment is very painful and inflation isn't.
[0]https://en.wikipedia.org/wiki/Modern_Monetary_Theory