Hyman Minsky and the theory of money

26 April 2011

Hyman Minsky stands apart from all other economists in the attention he paid to and the understanding he brought to bear upon both financial crises and the role of financial institutions in causing them.

A quarter century after the publication of Minsky's magnum opus Stabilizing an unstable economy what strikes one on reading it is both the clarity of his conception and the fact that so little of it has penetrated mainstream economics.

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Category: Economics