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Author: Hyman P. Minsky Publisher: McGraw Hill Professional ISBN: 0071593004 Category : Business & Economics Languages : en Pages : 433
Book 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.
Author: Hyman P. Minsky Publisher: McGraw Hill Professional ISBN: 0071593004 Category : Business & Economics Languages : en Pages : 433
Book 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.
Author: Daniel H. Neilson Publisher: Polity ISBN: 9781509528509 Category : Political Science Languages : en Pages : 0
Book Description
No economist has written more incisively and provocatively on financial crisis than Hyman Minsky. Minsky is best known for his claim that "stability is destabilizing" – that the seeds of the bust are sown in the boom. This financial instability hypothesis received renewed attention – and substantial confirmation – in the global financial crisis of 2008. Minsky's insights are not limited to moments of crisis; they grow out of a comprehensive and critical theory of financial capitalism. This book provides a systematic overview of Minsky's thought, covering his entire body of work. It shows how financial crises arise not as exceptions, but out of the normal operation of a financial capitalist system. It explains why Minsky's theories sit uncomfortably with economics and what efforts have been made to integrate them, and shows how Minsky's work can be incorporated into other fields of social thought. This book will be of interest to students and scholars in economics, political economy, finance, politics, and social theory, as well as to anyone with an interest in the financial system and its tendency toward crisis.
Author: Hyman Minsky Publisher: Routledge ISBN: 1317232496 Category : Business & Economics Languages : en Pages : 329
Book Description
In the winter of 1933, the American financial and economic system collapsed. Since then economists, policy makers and financial analysts throughout the world have been haunted by the question of whether "It" can happen again. In 2008 "It" very nearly happened again as banks and mortgage lenders in the USA and beyond collapsed. The disaster sent economists, bankers and policy makers back to the ideas of Hyman Minsky – whose celebrated 'Financial Instability Hypothesis' is widely regarded as predicting the crash of 2008 – and led Wall Street and beyond as to dub it as the 'Minsky Moment'. In this book Minsky presents some of his most important economic theories. He defines "It", determines whether or not "It" can happen again, and attempts to understand why, at the time of writing in the early 1980s, "It" had not happened again. He deals with microeconomic theory, the evolution of monetary institutions, and Federal Reserve policy. Minsky argues that any economic theory which separates what economists call the 'real' economy from the financial system is bound to fail. Whilst the processes that cause financial instability are an inescapable part of the capitalist economy, Minsky also argues that financial instability need not lead to a great depression. This Routledge Classics edition includes a new foreword by Jan Toporowski.
Author: Ronnie J. Phillips Publisher: Routledge ISBN: 1315286637 Category : Business & Economics Languages : en Pages : 224
Book Description
This work presents a comprehensive history and evaluation of the role of the 100 percent reserve plan in the banking legislation of the New Deal reform era from its inception in 1933 to its re-emergence in the current financial reform debate in the US.
Author: Fouad Sabry Publisher: One Billion Knowledgeable ISBN: Category : Business & Economics Languages : en Pages : 509
Book Description
Who is Hyman Minsky "Hyman" Philip Minsky was a famous scholar at the Levy Economics Institute of Bard College in addition to being an economist from the United States. He taught economics at Washington University in St. Louis. His research endeavored to provide an understanding and explanation of the characteristics of financial crises, which he linked to oscillations in a potentially fragile financial system. His research attempts to provide this insight and explanation. Minsky is sometimes referred to as a post-Keynesian economist. This is due to the fact that, in the Keynesian tradition, he advocated for some government intervention in financial markets, opposed some of the financial deregulation that occurred in the 1980s, emphasized the significance of the Federal Reserve as a lender of last resort, and argued against the excessive accumulation of private debt in the financial markets. How you will benefit (I) Insights about the following: Chapter 1: Hyman Minsky Chapter 2: Economic bubble Chapter 3: Liquidity trap Chapter 4: Household debt Chapter 5: Second mortgage Chapter 6: Real-estate bubble Chapter 7: Austrian business cycle theory Chapter 8: Financial crisis Chapter 9: Real economy Chapter 10: Modern monetary theory Chapter 11: Mortgage loan Chapter 12: Subprime mortgage crisis Chapter 13: Minsky moment Chapter 14: Debt deflation Chapter 15: Causes of the 2000s United States housing bubble Chapter 16: Credit crunch Chapter 17: Subprime crisis background information Chapter 18: Government policies and the subprime mortgage crisis Chapter 19: Subprime mortgage crisis solutions debate Chapter 20: Causes of the Great Recession Chapter 21: 2007-2008 financial crisis Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information about Hyman Minsky.
Author: Marvin Minsky Publisher: Simon and Schuster ISBN: 1416579303 Category : Science Languages : en Pages : 400
Book Description
In this mind-expanding book, scientific pioneer Marvin Minsky continues his groundbreaking research, offering a fascinating new model for how our minds work. He argues persuasively that emotions, intuitions, and feelings are not distinct things, but different ways of thinking. By examining these different forms of mind activity, Minsky says, we can explain why our thought sometimes takes the form of carefully reasoned analysis and at other times turns to emotion. He shows how our minds progress from simple, instinctive kinds of thought to more complex forms, such as consciousness or self-awareness. And he argues that because we tend to see our thinking as fragmented, we fail to appreciate what powerful thinkers we really are. Indeed, says Minsky, if thinking can be understood as the step-by-step process that it is, then we can build machines -- artificial intelligences -- that not only can assist with our thinking by thinking as we do but have the potential to be as conscious as we are. Eloquently written, The Emotion Machine is an intriguing look into a future where more powerful artificial intelligences await.
Author: Piero Ferri Publisher: Edward Elgar Publishing ISBN: 1788973739 Category : BUSINESS & ECONOMICS Languages : en Pages : 264
Book Description
At its core this book sets out the analytical and methodological foundations of Minsky’s financial instability hypothesis (FIH). Grounded on the joint work of Piero Ferri and Hyman Minsky, it offers insightful analysis from a unique insider's perspective. The objective is to deepen and enlarge the toolbox used by Minsky and to place the analysis within a dynamic perspective where a meta model, based upon regime switching, can encompass the different forms that the FIH can assume.
Author: Hyman P. Minsky
Author: Hyman P. Minsky
Author: Marvin Minsky
Author: Daniel H. Neilson
Author: Hyman Minsky
Author: Ronnie J. Phillips
Author: Fouad Sabry
Author: Marvin Minsky
Author: Marvin Lee Minsky
Author: Richard Minsky
Author: Piero Ferri