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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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