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Zagreb talk on Minsky’s Financial Instability Hypothesis & the crisis of 2008

Summary:
My speech to staff and students at the University of Zagreb on how Minsky developed the Financial Instability Hypothesis, and why I see this as a foundation for a new non-equilibrium, monetary, complex systems approach to economics. The bad news is that crises like 2008 become not unpredictable shocks as in Neoclassical theory, but regular ...

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My speech to staff and students at the University of Zagreb on how Minsky developed the Financial Instability Hypothesis, and why I see this as a foundation for a new non-equilibrium, monetary, complex systems approach to economics. The bad news is that crises like 2008 become not unpredictable shocks as in Neoclassical theory, but regular events in a sophisticated monetary market economy. I’ll post the presentation Powerpoint file and an audio recording of the discussion to my blog.


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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