Minsky: Stabilizing an Unstable Economy

Hyman P. Minsky: Stabilizing an Unstable Economy

McGraw-Hill, kovakantinen 432 sivua

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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