Tags » Minsky
One of the most commonly cited reasons for studying history is to learn the mistakes of the past so we might avoid repeating them. Yet when we look over modern history there are repeated patterns of behaviour, countries fight wars with similar enemies over the same resources, politically we see issues – such as the balance between security and freedom – rise then fall then rise again in public discourse, and in economics there is the relentless cycle of booms and busts. 724 more words
The late Hyman Minsky, whose ideas on financial crises have seen a revival during the recent turmoil, writing in 1975:
103 more words
“In order to understand the policy issues confronting advanced capitalist countries today it is necessary to return to the issues that were central to the fundamental debate that took place in the 1930s on the relative merits of capitalism and socialism.