Stabilizing an Unstable Economy

Hyman P. Minsky

ISBN 10: 0071592997 / ISBN 13: 9780071592994

Published by McGraw-Hill Education - Europe, 2008

About this Item

2008. 1st Edition. Hardcover. With the financial market turmoil rocking investments around the globe, market watchers say we're in a "Minsky moment," where financial crisis is inevitable. This book is suitable for money managers, traders, and economists. Num Pages: 350 pages, black & white illustrations, figures. BIC Classification: 1KBB; KCB; KJ. Category: (P) Professional & Vocational. Dimension: 234 x 159 x 34. Weight in Grams: 696. . . . . . Seller Inventory # V9780071592994

Bibliographic Details

Title: Stabilizing an Unstable Economy

Publisher: McGraw-Hill Education - Europe

Publication Date: 2008

Binding: Hardcover

Condition: New

Edition: 1st Edition

About this title

Synopsis:

“Mr. Minsky long argued markets were crisis prone. His 'moment' has arrived.” -The Wall Street Journal

In 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 slowdowns-and 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 high-risk 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 banks

Henry 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.

About the Author:

Hyman P. Minsky, Ph.D., was an American economist who studied under Joseph Schumpeter and Wassily Leontief. He taught economics at Washington University, University of California--Berkeley, Brown University, and Harvard University. Minsky joined the Jerome Levy Economics Institute of Bard College as a distinguished scholar in 1990, where he continued his research and writing until a few months before his death in October, 1996. His two seminal books were Stabilizing an Unstable Economy and John Maynard Keynes.