Great Economists · Modern
Hyman Minsky
The economist who argued that stability breeds instability: calm periods encourage debt that moves from hedge to speculative to Ponzi finance until a 'Minsky moment'. Ignored for decades, he became essential reading after 2008.
Step 1 of 6 · Overview30 min read ·
Key idea
Prereqs: Credit & leverage; Keynes (Great Minds); The 2008 financial crisis. Next: Daniel Kahneman. Sources: Minsky's *Stabilizing an Unstable Economy* (1986) and 'The Financial Instability Hypothesis' (Levy Institute Working Paper 74, 1992); Steve Keen's lectures.Next: 1. Life