Testable predictions are part of the game.

Helpful explanations are another.

(Philosophy of science has moved on since Popper!)

MMT is bullshit. Total and complete bullshit. That’s a bigger topic than I have time or space for. You can’t even get those clowns to commit to anything their theory implies at all! Every time an obvious objection is raised they say “oh well that’s not what we mean!” Yeah ok so tell us what you DO mean.

Sorry but MMT is extremely frustrating. It’s not even playing the same game as normal macro. It as as much a “competitor” to standard macro as astrology is to astronomy. Like astrology, it has essentially nothing to do with reality.