Hyman P. Minsky. Introduction by Dimitri B. Papadimitriou and L. Randall Wray. Stabilizing an Unstable Economy. The late American economist and. Stabilizing an Unstable Economy. Hyman P. Minsky Ph.D. Follow this and additional works at: Introduction to Minsky’s Stabilizing an Unstable Economy. Dimitri Papadimitriou and L. Randall Wray. As we prepared this new edition of Hyman P. Minsky’s.

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Stabilizing an Unstable Economy covers: Money and Credit in Minsk Economies: The book covers, among other topics, the effect of speculative finance on investment and asset prices; booms and busts as unavoidable results of high-risk lending practices; government’s role in bolstering consumption during times of high unemployment; and the need to increase Federal Reserve oversight of banks.

More important, he explained why the economy tends to evolve in such a way that these crises become more likely. Stabilizing an Unstable Economy covers:.

Did Hyman Minsky find the secret behind financial crashes?

Stabilizing an Unstable Economy is Minsky’s seminal work, and it has been reissued so that it may be broadly available to a new generation of economists, analysts, and investors. From inside the book.


Stabilizing an Unstable Economy. He explains why the American economy has experienced periods of debilitating inflation, rising unemployment, and marked ztabilizing why the economy is now undergoing a credit crisis that he foresaw.

There has never been a more appropriate time to read this classic of economic theory. Account Options Sign in.

And unlike other analyses that blame “shocks,” “irrational exuberance,” or “foolish” policy, he argued that the processes that generate financial fragility are “natural,” or endogenous to the system. His ‘moment’ has arrived. Indeed, in this book, first published inMinsky examined a number of financial crises in detail, several of which involved similar financial instruments, such as commercial paper, municipal bonds, and real hynan and investment trusts.

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Stabilizing an Unstable Economy | Levy Economics Institute

Publications Book Series May Minsky first wrote about the inherent instability of financial markets in the late s, and accurately predicted a transformation of the economy that would not become apparent for nearly a generation.

Publication Highlight Working Paper No. Unlike other critical analyses of capitalist processes, which emphasize the crash, Minsky was more concerned with the behavior of agents during the euphoric periods.

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Minsky long argued markets were crisis prone. Randall Wray Snippet view – Two of Minsky’s colleagues, Dimitri B. He explains why the American economy has experienced periods of debilitating Minsky No preview available – In his seminal work, Minsky presents his groundbreaking financial theory of investment, one that is startlingly relevant today.

Minsky joined the Jerome Levy Economics Institute of Bard College as a distinguished scholar inwhere he continued his research and writing until a few months before his death in October, Minsky insisted that there is an inherent and fundamental instability in our sort of economy that tends toward a speculative boom. Monetary Policy stabilizijg Financial Structure. Ininterest in his work suddenly mimsky as the financial press recognized the relevance of his analysis to the meltdown of the mortgage-backed securities market.

Stabilizing an Unstable Economy Hyman P.