“Mr. Minsky long argued markets were crisis prone. His 'moment' has arrived.” -The Wall Street Journal
In his seminal work, 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:
Henry Kaufman, president, Henry Kaufman & Company, Inc., places Minsky's prescient ideas in the context of today's financial markets and institutions in a fascinating new preface. Two of Minsky's colleagues, Dimitri B. Papadimitriou, Ph.D. and president, The Levy Economics Institute of Bard College, and L. Randall Wray, Ph.D. and a senior scholar at the Institute, also weigh in on Minsky's present relevance in today's economic scene in a new introduction.
A surge of interest in and respect for Hyman Minsky's ideas pervades Wall Street, as top economic thinkers and financial writers have started using the phrase “Minsky moment” to describe America's turbulent economy. There has never been a more appropriate time to read this classic of economic theory.
"synopsis" may belong to another edition of this title.
Praise for the prescient work of Hyman P. Minsky
"Twenty-five years ago, when most economists were extolling the virtues of financial deregulation and innovation, a maverick named Hyman P. Minsky maintained a more negative view of Wall Street; in fact, he noted that bankers, traders, and other financiers periodically played the role of arsonists, setting the entire economy ablaze."
--John Cassidy, The New Yorker
"The journey from subprime mortgages to a major credit crisis, a weak economy and broken business models in finance could all have been foreseen through Hyman Minsky's perspectives. His work remains essential to understanding the ground beneath us and the path ahead."
---George Magnus, Senior Economic Adviser, UBS Investment Bank
"It is time to revive an old issue: Just how inherently unstable are economies? But instead of getting much guidance these days from contemporary economists, we need to turn to some of the giants from the past. The work of Hyman Minsky . . . is especially on the mark."
--Jeff Madrick, The New York Times
"Hyman Minsky's work has never been more valuable. His financial instability hypothesis, complete with hedge, speculative and ponzi units, has played out to a T in the U.S. property and mortgage markets over the last half decade."
--Paul McCulley, Managing Director, PIMCO
"As it happens, Minsky is enjoying something of a revival. Two of his books, John Maynard Keynes, and Stabilizing an Unstable Economy were just republished by McGraw-Hill, and his contention that stability is inherently unstable seems more relevant than ever in the aftermath of the period of low market volatility that ended in the current crisis.
"In the latter of those books, published in 1986, Minsky wrote, 'If the institutions responsible for the lender-of-last resort function stand aside and allow market forces to operate, then the decline in asset values relative to current output prices will be larger than with intervention; investment and debt financed consumption will fall by larger amounts; and the decline in income, employment and profits will be greater.' In other words, without government bailouts, there can be a downward spiral."
--The New York Times
"About this title" may belong to another edition of this title.
Shipping:
£ 2.40
Within U.S.A.
Book Description Condition: new. Seller Inventory # newMercantile_0071592997
Book Description Hardcover. Condition: new. New. Fast Shipping and good customer service. Seller Inventory # Holz_New_0071592997
Book Description Hardcover. Condition: new. New Copy. Customer Service Guaranteed. Seller Inventory # think0071592997
Book Description Condition: New. Brand New. US Edition Book. We do not ship to Military Addresses. Fast Shipping with Order Tracking. For Standard Shipping 7-8 business days & Expedite Shipping 4-6 business days, after shipping. Seller Inventory # 0071592997-RMX
Book Description hardcover. Condition: New. Brand new gift quality hardcover in jacket Please email for photos. Larger books or sets may require additional shipping charges. Books sent via US Postal. Seller Inventory # 119036
Book Description Hardback or Cased Book. Condition: New. Stablizing an Unstable Economy 1.62. Book. Seller Inventory # BBS-9780071592994
Book Description Condition: New. Book is in NEW condition. Seller Inventory # 0071592997-2-1
Book Description Condition: New. Seller Inventory # 5546099-n
Book Description hardback. Condition: New. Language: eng. Seller Inventory # 9780071592994
Book Description HRD. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # GB-9780071592994