Comment by bccdee

Odd that you think "late stage capitalism" describes resource constraints. It's really more a term to describe the bizarre economic consequences of increasing degrees of financialization turning every sector of the economy into speculative theatre.

MMT is an elaborate way of describing the process of taxing investment capital away from existing capitalists such that the state can invest it itself. You may complain that the state would invest that capital poorly (others would counter that private VCs already do it poorly), but the essential economics of it is dead simple.