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Minsky 1.0 Demo 16 Why Godley Tables matter

Summary:
This is a quick demo of using the Godley Table feature of Minsky to add a necessary level of complexity to my monetary model of financial instability. It is very easy to add details like this–adding shareholders who receive dividends, and dividing the firm sector’s accounts into a capital and a current account. It would ...

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This is a quick demo of using the Godley Table feature of Minsky to add a necessary level of complexity to my monetary model of financial instability. It is very easy to add details like this–adding shareholders who receive dividends, and dividing the firm sector’s accounts into a capital and a current account. It would be a nightmare to add the same levels of complexity using a standard system dynamics program like Vissim or Vensim.


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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