Why Is The Left So Hung Up About Modern Monetary Theory?

"Yet many on the left still dismiss the reality of this process, which is described by modern monetary theory (MMT). MMT is best explained by Stephanie Kelton in her 2020 book, The Deficit Myth. Those on the left who criticise MMT seek to do three things: first, to maintain the power of independent central bankers; second, to maintain the myth of money market constraints on governments, including by the threat of interest rate rises; and third, they want unemployment to remain a mechanism for controlling the economy. Why they should want these things baffles me, but that’s the consequence of what they say."