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    Stabilizing an Unstable Economy

    By: Hyman Minsky

    QTY
    -+
    $50.99
     
     
    ISBN
    9780071593007
    Date Released
    Binding
    eBook
     
     

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    Description
    “Mr. Minsky long argued markets were crisis prone. His 'moment' has arrived.” -The Wall Street Journal

    In his seminal work, Minsky presents his groundbreaking financial theory of investment, one that is startlingly relevant today. He explains why the American economy has experienced periods of debilitating inflation, rising unemployment, and marked slowdowns-and why the economy is now undergoing a credit crisis that he foresaw. Stabilizing an Unstable Economy covers:

    The natural inclination of complex, capitalist economies toward instability

    Booms and busts as unavoidable results of high-risk lending practices

    “Speculative finance” and its effect on investment and asset prices

    Government's role in bolstering consumption during times of high unemployment

    The need to increase Federal Reserve oversight of banks

    Henry Kaufman, president, Henry Kaufman & Company, Inc., places Minsky's prescient ideas in the context of today's financial markets and institutions in a fascinating new preface. Two of Minsky's colleagues, Dimitri B. Papadimitriou, Ph.D. and president, The Levy Economics Institute of Bard College, and L. Randall Wray, Ph.D. and a senior scholar at the Institute, also weigh in on Minsky's present relevance in today's economic scene in a new introduction.

    A surge of interest in and respect for Hyman Minsky's ideas pervades Wall Street, as top economic thinkers and financial writers have started using the phrase “Minsky moment” to describe America's turbulent economy. There has never been a more appropriate time to read this classic of economic theory.

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