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"It would be useful if the basic principles of modern monetary theory, if the work of Wynne Godley and his followers insisting on models that maintain stock flow accounting consistency and if Minsky's instability principles were at the core of understanding of these matters. But it is obvious that they are not." — James K. Galbraith

(Transcribed from "A Profession in Disgrace", presentation to the ASSA ASE session,
"New Directions in Macro: Where is the Real World Pulling Us?" Denver, Colorado on January 9, 2011)

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