that's right. mmt is an argument against austerity, but not an argument for socialism - although it may help put the conditions in place for the kind of evolution of capitalism into socialism that marx had in mind. in that sense, it's actually an argument for capitalism, but perhaps through the lens of historical materialism, if you want it to be.

wolff has historically been critical of keynesians for retarding socialism, but i think he's relying too much on marx' theory of politics and not enough on what is sometimes called "economic determinism". i think there's a good place for determinism, and don't see much evidence for successful proletariat revolutions.

but, that's a debate we can have on the left - so long as we agree that austerity is bollocks.