by Summary:
Building a model of Minsky’s Financial Instability Hypothesis on the foundations of Goodwin’s model; The emergent properties of this model: (1) A cyclically rising debt level (predicted by Minsky) (2) Rising inequality (probably expected by Minsky, but not predicted) and (3) Diminishing cycles in employment, economic growth, and inflation, before a crisis (totally unexpected); The ...
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Building a model of Minsky’s Financial Instability Hypothesis on the foundations of Goodwin’s model; The emergent properties of this model: (1) A cyclically rising debt level (predicted by Minsky) (2) Rising inequality (probably expected by Minsky, but not predicted) and (3) Diminishing cycles in employment, economic growth, and inflation, before a crisis (totally unexpected); The ...
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Steve Keen considers the following as important:
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