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Mr. Minsky long argued markets were crisis prone. His 'moment' has arrived. The Wall Street JournalIn 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 slowdownsand 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 highrisk 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 banksHenry 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.
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- Q: What is the main theme of 'Stabilizing an Unstable Economy'? A: 'Stabilizing an Unstable Economy' by Hyman Minsky discusses the inherent instability of capitalist economies and the cycles of booms and busts that arise from risky lending practices. It emphasizes the relevance of Minsky's theories in today's economic environment.
- Q: Who is the author of 'Stabilizing an Unstable Economy'? A: The author of 'Stabilizing an Unstable Economy' is Hyman Minsky, a notable economist known for his insights into financial instability and economic theory.
- Q: When was 'Stabilizing an Unstable Economy' published? A: 'Stabilizing an Unstable Economy' was published on April 14, 2008.
- Q: What type of binding does this book have? A: This book is available in hardcover binding.
- Q: How many pages are in 'Stabilizing an Unstable Economy'? A: 'Stabilizing an Unstable Economy' contains 432 pages.
- Q: What economic concepts does Minsky address in this book? A: In this book, Minsky addresses concepts such as speculative finance, high-risk lending practices, the role of government in economic stability, and the importance of oversight in banking.
- Q: Is 'Stabilizing an Unstable Economy' suitable for beginners in economics? A: While 'Stabilizing an Unstable Economy' provides valuable insights, it is recommended for readers with some background in economic theory, as Minsky's concepts can be complex.
- Q: What do reviewers say about the relevance of Minsky's ideas today? A: Many reviewers note that Minsky's ideas are increasingly relevant in today's financial climate, especially in discussing the concept of a 'Minsky moment' during economic crises.
- Q: Are there any new introductions or prefaces in this edition? A: Yes, this edition includes a new preface by Henry Kaufman and an introduction by Minsky's colleagues, providing context for his theories in today's financial landscape.
- Q: What category does 'Stabilizing an Unstable Economy' fall under? A: 'Stabilizing an Unstable Economy' is categorized under Economic Policy & Development.