While it is true that colonial era governments sometimes burned paper money after receiving it in the form of taxation, why they burned the money is for reasons other than what MMT advocates are claiming. In the end, the MMT promoters are telling a false history.
Joshua Mawhorter
Joshua Mawhorter is assistant editor of Mises.org. He was a summer fellow at the Mises Institute (2023) and a government/economics and US history teacher since 2016. Josh has a bachelor’s degree in political science from California State University, Bakersfield, a master’s in political science from Southern New Hampshire University, and a master’s in Austrian economics from the Mises Graduate School (2023). He has self-published a few books, including The First Constitution: The Articles of Confederation, Tyrannosaurus Debt: The Student Loan Crisis and How to Survive, and “An Austrian Critique of Modern Monetary Theory”, his thesis. He also enjoys teaching in the areas of theology, the Old Testament, church history, apologetics, and philosophy.