Why Minsky Matters: An Introduction to the Work of a Maverick Economist

Wray, L. Randall

ISBN 10: 0691159122 / ISBN 13: 9780691159126

Editore: Princeton University Press, Princeton, 2016

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Octavo - NF/NF - Black cloth covered boards and spine with shiny silver foil lettering on the spine. This book has no discernable wear. Light gray endpapers. Binding is straight and tight. Previous owner has written a list of bullet points on the free rear endpaper - pages are otherwise all clean, white, and crisp. 273 pages. Dust Jacket has a nearly unnoticeable rub at the extreme tip of the upper rear outside corner - jacket is otherwise clean, bright, and sharp. A tight, clean attractive copy.

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Dati bibliografici

• Titolo: Why Minsky Matters: An Introduction to the Work of a Maverick Economist
• Editore: Princeton University Press, Princeton
• Data di pubblicazione: 2016
• Lingua: Inglese
• ISBN 10: 0691159122
• ISBN 13: 9780691159126
• Rilegatura: Rilegato
• Edizione: prima edizione
• Stampa: Prima stampa
• Condizione: quasi ottimo
• Condizione della sovraccoperta: quasi ottimo
• Cataloghi dei venditori:
  • Biography & Memoir

Descrizione articolo

Riassunto

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 "stability is destabilizing": 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.

Informazioni sull'autore

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