Economists
Hyman Minsky
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Hyman Minsky was an American economist who developed the financial instability hypothesis, arguing that capitalist financial systems move endogenously from stable, hedge financing toward speculative and eventually Ponzi financing during periods of calm, so that stability itself is destabilizing. Largely outside the mainstream during his lifetime at Washington University in St. Louis, his work was widely revisited after the 2008 financial crisis, when commentators coined the term 'Minsky moment' to describe the sudden collapse of confidence his theory had long predicted.
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Additional Source WikipediaInfobox, Hyman Minsky (Influences) Sources
1. Stabilizing an Unstable Economy
Hyman Minsky, Yale University Press, 1986
1. Stabilizing an Unstable Economy
Hyman Minsky, Yale University Press, 1986Associated With: Business Cycle, Chapter 8Quote, Associated With: Business Cycle, Chapter 8
Minsky's financial instability hypothesis in Stabilizing an Unstable Economy argues that stability in the business cycle itself breeds the risk-taking that produces the next crisis.
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Wikimedia FoundationInfluenced By: John Maynard Keynes, Infobox, Hyman Minsky (Influences)Quote, Influenced By: John Maynard Keynes, Infobox, Hyman Minsky (Influences)
Henry Simons, Karl Marx, Joseph Schumpeter, Wassily Leontief, Michał Kalecki, John Maynard Keynes, Irving Fisher, Abba Lerner
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