Minsky

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 operat…