Why Minsky Matters (eBook)

An Introduction to the Work of a Maverick Economist

L Randall Wray (Autor)

eBook Download: PDF | EPUB

2015
288 Seiten
Princeton University Press (Verlag)
978-1-4008-7349-4 (ISBN)

Infos

L. Randall Wray is professor of economics at Bard College, senior scholar at the Levy Economics Institute of Bard College.

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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 "e;stability is destabilizing"e;: 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.

Produkt-Details

• Erscheint lt. Verlag: 3.11.2015
• Verlagsort: Princeton
• Sprache: englisch
• Themenwelt: Literatur ► Biografien / Erfahrungsberichte
• Themenwelt: Literatur ► Romane / Erzählungen
• Themenwelt: Sachbuch/Ratgeber ► Beruf / Finanzen / Recht / Wirtschaft ► Wirtschaft
• Themenwelt: Geschichte ► Teilgebiete der Geschichte ► Wirtschaftsgeschichte
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung
• Themenwelt: Wirtschaft ► Allgemeines / Lexika
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
• Schlagworte: aggregate demand • Alt-A • asset • automatic stabilizer • balance of trade • balance sheet • Bank • bank run • Ben Bernanke • Big Government • Bracket creep • Budget • Capital adequacy Ratio • Capital asset • Capitalism • Cash • Central Bank • Commercial Bank • Community development bank • consumer • Consumer Debt • Consumption (Economics) • Credit Control • Creditor • credit risk • Currency • Customer • debt • debt deflation • Debtor • Deficit Spending • Demand deposit • Deposit account • deposit insurance • Discount window • Economic bubble • Economic equilibrium • economic interventionism • Economics • economist • economy • Employer of Last Resort • Employment • Endogenous money • Finance • Finance capitalism • Financial asset • Financial Crisis • Financial crisis of 2007–08 • financial fragility • Financial institution • Financial Intermediary • financialization • Financial Services • Fiscal Policy • Full employment • Funding • Globalization • Goldman Sachs • Government budget balance • Government Debt • Great Moderation • Gresham's law • Household • Hyman Minsky • income • income distribution • Inflation • Inflationary bias • Insolvency • Institution • insurance • Interest Rate • Investment • Investment banking • Investment goods • Investor • John Maynard Keynes • Keynesian Economics • Keynesian revolution • Lender of last resort • Leveraged buyout • Leverage (finance) • Levy Economics Institute • Liability (financial accounting) • Macroeconomics • macroprudential regulation • Margin of safety (financial) • Market (economics) • market liquidity • Market power • Milton Friedman • Monetarism • monetary policy • moneylender • Money Management • money market • Money Supply • mortgage loan • Neoclassical Economics • Net Interest Margin • Net Worth • Open market operation • Paul Krugman • Payment • Policy • Poverty • poverty reduction • private sector • Push On A String • Quantitative Easing • Race to the Bottom • Real bills doctrine • Real business-cycle theory • Recession • Revenue • Risk • saving • Securitization • Shadow Banking System • solvency • Supply (economics) • Tax • Too big to fail • Underwriting • Unemployment • Valuation (finance) • War on Poverty • welfare
• ISBN-10: 1-4008-7349-5 / 1400873495
• ISBN-13: 978-1-4008-7349-4 / 9781400873494