Money and Finance
- Analysis (bbc Radio): Why Minsky Matters
Link to podcast: Why Minsky MattersAmerican economist Hyman Minsky died in 1996, but his theories offer one of the most compelling explanations of the 2008 financial crisis. His key idea is simple enough to be a t-shirt slogan: "Stability is destabilising"....
- Bill Gross – February 2013 Investment Outlook: Credit Supernova!
Economist Hyman Minsky did. With credit now expanding, the sophisticated economic model provided by Minsky was working its way towards what he called Ponzi finance. First, he claimed the system would borrow in low amounts and be relatively self-sustaining...
- Steve Keen On The “from Alpha To Omega” Podcast
The “From Alpha to Omega” podcast recorded the following interview with me about the “Modern Debt Jubilee”. We discuss a lot more than just that–starting with why people who are interested in Hyman Minsky’s work should NOT read Stabilizing...
- Steve Keen Paper: "instability In Financial Markets: Sources And Remedies"
Introduction In the seemingly never-ending aftermath to the economic crisis that began in 2007, there is little disagreement that financial markets are characterized by instability rather than stability. Even Eugene Fama, the most influential proponent...
- February 2007 Article: Ponzi Nation - By Edward Chancellor
I found this article on Simoleon Sense. Low volatility and easy credit are boosting asset prices. But according to the late theorist Hyman Minsky, today's stability may be sowing the seeds of its own demise. Credit has grown rapidly in recent years....
Money and Finance
Links
Bruce Greenwald: An Alternative Explanation of the Great Recession (video) [H/T ValueWalk] (LINK) ["What I'm going to start talking about, because this is a Minsky conference, is something that Hyman Minsky identified that's been largely overlooked now. Which is that the notion that balance sheet crises are something novel I hope has Hyman Minsky rolling over in his grave. Because not only did he identify in qualitative terms a sequence of balance sheet crises -- which by the way fill an important gap in Keynesian theory. The problem with basic Keynesian models is that they're not cyclical models."]
Related books from Hyman Minsky: Stabilizing an Unstable Economy; Can It Happen Again?: Essays on Instability and Finance; John Maynard Keynes (Minsky's re-interpretation of the Keynesian Revolution)No Ordinary Disruption: the four global forces breaking all the trends (LINK)
In a new book, No Ordinary Disruption, the three leaders of the McKinsey Global Institute, McKinsey's business and economics research arm, argue that the world is now roughly in the middle of a dramatic transition as a result of four fundamental disruptive trends: growth and urbanisation in emerging markets, technological disruption, increasing connectivity, and the ageing of populations. None of these disruptions, on its own, is a surprise. The unique challenge is that they are happening at the same time - and on a huge scale, creating second-, third-, and even fourth-order effects that are scarcely possible to anticipate. As they collide, they will produce change so significant that much of the management intuition that has served us in the past will become irrelevant, causing us to reset our collective intuition.Paul Volcker warns on health of US state finances [H/T Matt] (LINK)
Related report: Truth and Integrity in State BudgetingBrain Pickings: The Dalai Lama’s Daily Routine and Information Diet (LINK)
Related book; The Open Road: The Global Journey of the Fourteenth Dalai LamaCamera traps provide treasure trove of African animal pics (LINK)
- Analysis (bbc Radio): Why Minsky Matters
Link to podcast: Why Minsky MattersAmerican economist Hyman Minsky died in 1996, but his theories offer one of the most compelling explanations of the 2008 financial crisis. His key idea is simple enough to be a t-shirt slogan: "Stability is destabilising"....
- Bill Gross – February 2013 Investment Outlook: Credit Supernova!
Economist Hyman Minsky did. With credit now expanding, the sophisticated economic model provided by Minsky was working its way towards what he called Ponzi finance. First, he claimed the system would borrow in low amounts and be relatively self-sustaining...
- Steve Keen On The “from Alpha To Omega” Podcast
The “From Alpha to Omega” podcast recorded the following interview with me about the “Modern Debt Jubilee”. We discuss a lot more than just that–starting with why people who are interested in Hyman Minsky’s work should NOT read Stabilizing...
- Steve Keen Paper: "instability In Financial Markets: Sources And Remedies"
Introduction In the seemingly never-ending aftermath to the economic crisis that began in 2007, there is little disagreement that financial markets are characterized by instability rather than stability. Even Eugene Fama, the most influential proponent...
- February 2007 Article: Ponzi Nation - By Edward Chancellor
I found this article on Simoleon Sense. Low volatility and easy credit are boosting asset prices. But according to the late theorist Hyman Minsky, today's stability may be sowing the seeds of its own demise. Credit has grown rapidly in recent years....