Why Minsky Matters

Author : L. Randall Wray
Publisher : Princeton University Press
ISBN 13 : 0691178402
Total Pages : 285 pages
Book Rating : 4.00/5 ( download)

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Download or read book Why Minsky Matters written by L. Randall Wray and published by Princeton University Press. This book was released on 2017-10-17 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Perhaps no economist was more vindicated by the global financial crisis than Hyman P. Minsky (1919–96). Although a handful of economists raised alarms as early as 2000, Minsky's warnings began a half-century earlier, with writings that set out a compelling theory of financial instability. Yet even today he remains largely outside mainstream economics; few people have a good grasp of his writings, and fewer still understand their full importance. Why Minsky Matters makes the maverick economist’s critically valuable insights accessible to general readers for the first time. L. Randall Wray shows that by understanding Minsky we will not only see the next crisis coming but we might be able to act quickly enough to prevent it. As Wray explains, Minsky’s most important idea is that "stability is destabilizing": to the degree that the economy achieves what looks to be robust and stable growth, it is setting up the conditions in which a crash becomes ever more likely. Before the financial crisis, mainstream economists pointed to much evidence that the economy was more stable, but their predictions were completely wrong because they disregarded Minsky’s insight. Wray also introduces Minsky’s significant work on money and banking, poverty and unemployment, and the evolution of capitalism, as well as his proposals for reforming the financial system and promoting economic stability. A much-needed introduction to an economist whose ideas are more relevant than ever, Why Minsky Matters is essential reading for anyone who wants to understand why economic crises are becoming more frequent and severe—and what we can do about it.

Author : Hyman Minsky
Publisher : McGraw Hill Professional
ISBN 13 : 0071593004
Total Pages : 350 pages
Book Rating : 4.07/5 ( download)

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Download or read book Stabilizing an Unstable Economy written by Hyman Minsky and published by McGraw Hill Professional. This book was released on 2008-05-01 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: “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.

Author : Marvin Minsky
Publisher : Simon and Schuster
ISBN 13 : 0671657135
Total Pages : 342 pages
Book Rating : 4.30/5 ( download)

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Download or read book Society Of Mind written by Marvin Minsky and published by Simon and Schuster. This book was released on 1988-03-15 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: Computing Methodologies -- Artificial Intelligence.

Author : Hyman P. Minsky
Publisher : Levy Economics Institute of Bard College
ISBN 13 : 9781936192311
Total Pages : 185 pages
Book Rating : 4.14/5 ( download)

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Download or read book Ending Poverty written by Hyman P. Minsky and published by Levy Economics Institute of Bard College. This book was released on 2013 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although Hyman P. Minsky is best known for his ideas about financial instability, he was equally concerned with the question of how to create a stable economy that puts an end to poverty for all who are willing and able to work. This collection of Minsky's writing spans almost three decades of his published and previously unpublished work on the necessity of combating poverty through full employment policies-through job creation, not welfare.

Author : L. Randall Wray
Publisher : Springer
ISBN 13 : 1137539925
Total Pages : 322 pages
Book Rating : 4.22/5 ( download)

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Download or read book Modern Money Theory written by L. Randall Wray and published by Springer. This book was released on 2015-09-22 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.

Author : Marvin Minsky
Publisher : Simon and Schuster
ISBN 13 : 1416579303
Total Pages : 400 pages
Book Rating : 4.04/5 ( download)

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Download or read book The Emotion Machine written by Marvin Minsky and published by Simon and Schuster. This book was released on 2007-11-13 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this mind-expanding book, scientific pioneer Marvin Minsky continues his groundbreaking research, offering a fascinating new model for how our minds work. He argues persuasively that emotions, intuitions, and feelings are not distinct things, but different ways of thinking. By examining these different forms of mind activity, Minsky says, we can explain why our thought sometimes takes the form of carefully reasoned analysis and at other times turns to emotion. He shows how our minds progress from simple, instinctive kinds of thought to more complex forms, such as consciousness or self-awareness. And he argues that because we tend to see our thinking as fragmented, we fail to appreciate what powerful thinkers we really are. Indeed, says Minsky, if thinking can be understood as the step-by-step process that it is, then we can build machines -- artificial intelligences -- that not only can assist with our thinking by thinking as we do but have the potential to be as conscious as we are. Eloquently written, The Emotion Machine is an intriguing look into a future where more powerful artificial intelligences await.

Author : Daniel H. Neilson
Publisher : Polity
ISBN 13 : 9781509528509
Total Pages : 0 pages
Book Rating : 4.04/5 ( download)

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Download or read book Minsky written by Daniel H. Neilson and published by Polity. This book was released on 2019-09-16 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 operation of a financial capitalist system. It explains why Minsky's theories sit uncomfortably with economics and what efforts have been made to integrate them, and shows how Minsky's work can be incorporated into other fields of social thought. This book will be of interest to students and scholars in economics, political economy, finance, politics, and social theory, as well as to anyone with an interest in the financial system and its tendency toward crisis.

Author : Irene van Staveren
Publisher : Springer Nature
ISBN 13 : 3030576094
Total Pages : 214 pages
Book Rating : 4.97/5 ( download)

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Download or read book Alternative Ideas from 10 (Almost) Forgotten Economists written by Irene van Staveren and published by Springer Nature. This book was released on 2021-01-18 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should we address today’s big problems, and what we can take from icons of economics past? How would John Maynard Keynes have resolved today’s debt problem, or how would Adam Smith have assessed the European carbon emission trading market? This book applies the ideas of ten renowned economists (Marx, Minsky, Keynes, Knight, Bergmann, Veblen, Sen, Myrdal, Smith, Robinson) to real world economic problems, directly or indirectly related to the causes and consequences of the 2008 financial crisis. Each chapter presents an economist, and structures the ‘problem’, the ‘insight’ (the economist’s idea), the ‘economist’ (short bio), and two ‘practices’ offering real-world alternatives. This book presents a lively and original approach that will be of interest to economists and non-economists alike, discussing key elements of an economics for a postcapitalist economy and connecting policy insights to real-world problems of today.

Author : Marvin Lee Minsky
Publisher : Prentice Hall
ISBN 13 :
Total Pages : 344 pages
Book Rating : 4.49/5 ( download)

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Download or read book Computation: Finite and Infinite Machines written by Marvin Lee Minsky and published by Prentice Hall. This book was released on 1967 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Piero Ferri
Publisher : Edward Elgar Publishing
ISBN 13 : 1788973739
Total Pages : 264 pages
Book Rating : 4.31/5 ( download)

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Download or read book Minsky’s Moment written by Piero Ferri and published by Edward Elgar Publishing. This book was released on 2019 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: At its core this book sets out the analytical and methodological foundations of Minsky’s financial instability hypothesis (FIH). Grounded on the joint work of Piero Ferri and Hyman Minsky, it offers insightful analysis from a unique insider's perspective. The objective is to deepen and enlarge the toolbox used by Minsky and to place the analysis within a dynamic perspective where a meta model, based upon regime switching, can encompass the different forms that the FIH can assume.