Hyman Minsky on the aim of policy – via econblog101

Minsky

Economist Hyman Minsky, whose Financial Instability Hypothesis built on the work of Keynes

I am currently writing up an article on what Minsky added to Keynes an onwards to whether this is an up to date theoretical framework ready for use in the 21st century. In a nutshell, Keynes explained that output, inflation and unemployment are driven by changes in investment, which is itself driven by changes in […]

via Hyman Minsky on the aim of policy — econoblog101

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2 thoughts on “Hyman Minsky on the aim of policy – via econblog101

    • Thanks for this link. Palley’s ideas on the origins of the crisis and possible solutions are certainly interesting and worth exploring. I am somewhat pessimistic about their implementation given the continued power of finance economically. I am even less convinced by the socialist solution, but this is not to neglect the role of the state in driving particular social changes. I continue to look into Marxist emphases on the rate of profit and post-Keynesian ones on the importance of aggregate demand and its structural determinants, and have not fully committed to either although I feel that the right explanation comes from these areas. Some kind of synthesis may be the right way forward.

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