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I wholly agree about the need for the relevant economic history to be considered in any economic comparison. The fact that it blows up so many grand theories is likely a large part of why it and History of Economic Thought has largely been banished from Mainstream Economics. And I agree that Piketty's conclusions are both consistent with and supportive of MMT. But they are not the same thing.  

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Mar 27th, 2015 at 12:11:00 AM EST
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I see how my comment can be read like Piketty is part of MMT, but actually I meant he belongs on the list, at point three with Keynes and Minsky.
by fjallstrom on Mon Mar 30th, 2015 at 02:00:10 PM EST
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