Tags » Minsky

Stability is Destabilizing

In a recent  interview with Andrew Ross Sorkin, published in The New York Times, President Obama argued that the U.S. economy is in fine shape, despite public feelings that it might not be. 1,026 more words


[#120.2] Avi Baranes on financialization, mergers, and innovation from an (old) institutional economics perspective


Part 2 of our conversation with Avi. We definitely need him back ASAP for more!
Special guest: Avi Baranes on financialization in general, and the pharmaceutical industry in particular…
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Memory and Optimism of Societies

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


Hyman Minsky's contribution to economics: a book review

Here is a link to my review of the recently published book Why Minsky Matters by L. Randall Wray, posted on the Rethinking Economics website. Anyone who wants a better understanding of the Great Financial Crisis needs to be familiar with Minsky’s ideas. 47 more words

Political Economy

Marvin Minsky

Marvin Minsky regarded as the father of Artificial Intelligence (AI) is no more. He left this physical world at the age of 88 last Sunday. This is a great loss to the world. 653 more words


Minsky, Searle, Philosophy, Mind, and Computers

Marvin Minsky died at age 88. Let me quote from the beginning of his seminal book from 1985, “The Society of Mind”:

“This book tries to explain how mind works. 363 more words


Minsky on the management of capitalism

The late Hyman Minsky, whose ideas on financial crises have seen a revival during the recent turmoil, writing in 1975:

“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.

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Political Economy