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Lecture 6 on Minsky, Financial Instability, the Great Depression & the Global Financial Crisis

Summary:
I explain Minsky’s Financial Instability Hypothesis–why he developed it, what were his inspirations, how well it fits the empirical record, and how it can be modeled easily using system dynamics methods. For some reason my webcam froze for the 1st half of the lecture; I start moving in the second half…

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I explain Minsky’s Financial Instability Hypothesis–why he developed it, what were his inspirations, how well it fits the empirical record, and how it can be modeled easily using system dynamics methods.



For some reason my webcam froze for the 1st half of the lecture; I start moving in the second half…



Steve Keen
Steve Keen (born 28 March 1953) is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. The major influences on Keen's thinking about economics include John Maynard Keynes, Karl Marx, Hyman Minsky, Piero Sraffa, Augusto Graziani, Joseph Alois Schumpeter, Thorstein Veblen, and François Quesnay.

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