Stabilizing an unstable economy

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Title:

Author:

Minsky, Hyman P.

ISBN:

9780071592994

Personal Author:

Minsky, Hyman P.

Publication Information:

New York : McGraw-Hill ; London : McGraw-Hill [distributor], c2008.

Physical Description:

xxxv, 395 p. ; 24 cm.

General Note:

"First edition published in 1986 by Yale University Press"--T.p. verso.

Contents:

Economic processes, behavior, and policy -- A deep recession but not a depression in 1975 : the impact of big government -- A deep recession but not a depression in 1975 : the impact of lender-of-last-resort intervention -- The emergence of financial instability in the postwar era -- Perspectives on theory -- The current standard theory : the after-Keynes synthesis -- Prices and profits in a capitalist economy -- Investment and finance -- Financial commitments and instability -- Banking in a capitalist economy -- Inflation -- Introduction to policy -- An agenda for freedom.

Subject Term:

Economic stabilization -- United States.

Economics.

Keynesian economics.

Geographic Term:

United States -- Economic policy.

Added Corporate Author:

Yale University Press.

Copies:

Available:*

Library	Material Type	Item Barcode	Shelf Number	Copy	Status
Searching... 1:IIEMSA	1:GEN-BOOK	33168025404860	339.5 M666S 2008	1	Searching... Unknown

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Summary

"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.