The LTV conversation going nowhere, let's try something else.

I agree that we need a new entitlement paradigm. "You eat what you kill" won't work when no one needs to kill anything for everyone to have everything. And even if only a few people have to work, entitling everyone else to a share of the outputs is a daunting exercise in human engineering, one that has not been solved, as the recent dust-up over student loan forgiveness should make clear.

But there is no reason to believe that common ownership of property is consistent with abundance. Someone must organize effort, and bureaucrats, who eventually become aparatchiks, cannot do the job. Communization will become sovietization, because that's simply how our species rolls. No amount of theorizing can fix that. Capitalism is not an accident; it is natural selection applied to paradigms of production as factories replaced farms, i.e., money replaced real estate as capital.

In my view, printing money is the solution to abundance. So long as too many goods are chasing too little money, helicopter money won't hurt anyone. Even that, though, is harder to do than to say. But MMT provides a route to shared prosperity, where communism leads only to brutality and kleptocracy.