Stabilizing an Unstable Economy
E764590
"Stabilizing an Unstable Economy" is a seminal 1986 book by economist Hyman Minsky that develops his financial instability hypothesis, explaining how financial markets and debt dynamics can endogenously generate economic crises and proposing reforms to make capitalism more resilient.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Stabilizing an Unstable Economy canonical | 1 |
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
book
ⓘ
economics book ⓘ |
| aimsTo |
explain causes of financial crises
ⓘ
provide framework for macroprudential policy ⓘ |
| argues |
financial fragility is inherent in capitalism
ⓘ
periods of stability encourage riskier financial structures ⓘ stability is destabilizing in financial markets ⓘ |
| associatedWith |
Minskian economics
NERFINISHED
ⓘ
post-Keynesian economics NERFINISHED ⓘ |
| author | Hyman Minsky NERFINISHED ⓘ |
| critiques |
efficient markets hypothesis
ⓘ
neoclassical equilibrium models ⓘ |
| describes |
Ponzi finance
ⓘ
credit cycles ⓘ endogenous financial instability ⓘ hedge finance ⓘ speculative bubbles ⓘ speculative finance ⓘ |
| emphasizes |
importance of balance sheets
ⓘ
interaction of real and financial sectors ⓘ role of banks in credit creation ⓘ |
| genre | economic theory ⓘ |
| hasImpactOn |
financial regulation discourse
ⓘ
macroeconomic policy debates ⓘ theory of financial instability ⓘ |
| influencedBy |
John Maynard Keynes
NERFINISHED
ⓘ
The General Theory of Employment, Interest and Money NERFINISHED ⓘ |
| isDescribedAs |
foundational text in post-Keynesian finance
ⓘ
seminal work on financial instability ⓘ |
| language | English ⓘ |
| mainTopic |
business cycles
ⓘ
capitalist economy ⓘ debt dynamics ⓘ economic policy ⓘ financial crises ⓘ financial instability hypothesis ⓘ financial markets ⓘ macroeconomics ⓘ monetary economics ⓘ |
| proposes |
central bank as lender of last resort
ⓘ
countercyclical fiscal policy ⓘ financial regulation reforms ⓘ policies to stabilize capitalism ⓘ strengthening automatic stabilizers ⓘ |
| publicationYear | 1986 ⓘ |
| regards | investment and financing decisions as key to cycles ⓘ |
| supports |
active government intervention in the economy
ⓘ
regulation of financial innovation ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.