1st Edition

Can It Happen Again? Essays on Instability and Finance

By Hyman Minsky Copyright 2016
344 Pages
by Routledge

344 Pages
by Routledge

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... Read more
Preface Introduction Can "It" Happen Again?: A Reprise 1. Can "It" Happen Again? 2. Finance and Profits: The Changing Nature of American Business Cycles 3.The Financial Instability Hypothesis: An interpretation of Keynes and an Alernative to "Standard" Theory 4. Capitalist Financial Processes and the Instability of Capitalism 5. The Financial Instability Hypothesis: A Restatement 6. Financial Instability Revisited: The Economics of Disaster 7. Central Banking and Money Market Changes 8. The New Uses of Monetary Power 9. The Federal Reserve: Between a Rock and a Hard Place 10. An Exposition of a Keynesian Theory of Investment 11. Monetary Systems and Accelerator Models 12. The Integration of Simple Growth and Cycle Models 13. Private Sector Assets Management Policy: Theory and Practice Index

Biography

Hyman Minsky

"It is time to revive an old issue: Just how inherently unstable are economies? But instead of getting much guidance these days from contemporary economists, we need to turn to some of the giants from the past. The work of Hyman Minsky...is especially on the mark."
The New York Times

"Today, his views are reverberating from New York to Hong Kong as economists and traders try to understand what's happening in the markets... Indeed, the Minsky moment has become a fashionable catch phrase on Wall Street."
The Wall Street Journal

"There are few better places to begin the serious study of financial questions than with Can "It" Happen Again? – the work of the most insightful observer of finance in the economics profession today."
Robert Pollin, Monthly Review

"Minsky's essays are creative, sophisticated and wise. He has an important message for economists and a wider public."
Journal of Economic Issues

"The most significant economic event of the era since World War II is something that has not happened: there has not been a deep and long-lasting depression."
From the Introduction.