it, the rat will be conditioned to always travel this arduous route to get the cheese. Then if you open up a much simpler route for the rat to follow that is much easier and quicker, without modifying the original path, the rat will never discover that new simpler path you have opened up and will just keep on travelling the more difficult route. So apparently brains can operate under the "if it aint broke dont fix it" type of approach indefinitely if brains are conditioned to believe just one approach exists and is always successful.... Resp, If you search thru the internet available quotes from central bankers you will find from about 1960 at least that many central bankers were very bemused or frustrated with the mainstream conceptualisation of the "bank lending channel". Pretty obviously they thought mainstream ideas were ridiculous. Charles Goodhart who was on the monetary policy commitee of the bank of England was scaving about the money multiplier and also says that any economist who attempts to explain economics with reference to central bank operations is condemed to be cast into outer darkness. The bank of england and other central banks regard money in their countries as being endogenous. Pretty clearly in the USA monetary policy has been aimed to reduce short and long term interest rates and has been very successful at that. So that is about 95% of MMT as far as i can see. And due to the nature of money creation if