{"product_id":"stabilizing-an-unstable-economy-9780071592994","title":"Stabilizing an Unstable Economy","description":"\u003cp\u003e\"Mr. Minsky long argued markets were crisis prone. His 'moment' has arrived.\" -\u003ci\u003eThe Wall Street Journal\u003c\/i\u003e\u003c\/p\u003e\u003cp\u003eIn his seminal work, Minsky presents his groundbreaking financial theory of investment, one that is startlingly relevant today. He explains why the American economy has experienced periods of debilitating inflation, rising unemployment, and marked slowdowns-and why the economy is now undergoing a credit crisis that he foresaw. \u003ci\u003eStabilizing an Unstable Economy\u003c\/i\u003e covers: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eThe natural inclination of complex, capitalist economies toward instability\u003c\/li\u003e\n\u003cli\u003eBooms and busts as unavoidable results of high-risk lending practices \u003c\/li\u003e\n\u003cli\u003e\"Speculative finance\" and its effect on investment and asset prices \u003c\/li\u003e\n\u003cli\u003eGovernment's role in bolstering consumption during times of high unemployment\u003c\/li\u003e\n\u003cli\u003eThe need to increase Federal Reserve oversight of banks\u003c\/li\u003e\n\u003c\/ul\u003e\u003cp\u003eHenry Kaufman, president, Henry Kaufman \u0026amp; Company, Inc., places Minsky's prescient ideas in the context of today's financial markets and institutions in a fascinating new preface. Two of Minsky's colleagues, Dimitri B. Papadimitriou, Ph.D. and president, The Levy Economics Institute of Bard College, and L. Randall Wray, Ph.D. and a senior scholar at the Institute, also weigh in on Minsky's present relevance in today's economic scene in a new introduction. \u003c\/p\u003e \u003cp\u003eA surge of interest in and respect for Hyman Minsky's ideas pervades Wall Street, as top economic thinkers and financial writers have started using the phrase \"Minsky moment\" to describe America's turbulent economy. There has never been a more appropriate time to read this classic of economic theory.\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cp\u003e\u003cb\u003eHyman P. Minsky, Ph.D., \u003c\/b\u003e was an American economist who studied under Joseph Schumpeter and Wassily Leontief. He taught economics at Washington University, University of California--Berkeley, Brown University, and Harvard University. Minsky joined the Jerome Levy Economics Institute of Bard College as a distinguished scholar in 1990, where he continued his research and writing until a few months before his death in October, 1996. His two seminal books were \u003ci\u003eStabilizing an Unstable Economy\u003c\/i\u003e and \u003ci\u003eJohn Maynard Keynes\u003c\/i\u003e.\u003c\/p\u003e\u003cbr\u003e","brand":"McGraw-Hill Companies","offers":[{"title":"Default Title","offer_id":50513813143826,"sku":"9780071592994","price":48.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0831\/4771\/8930\/files\/img_bfaeb9cb-be77-4943-9ff8-4f5499d975f5.jpg?v=1730967616","url":"https:\/\/surprise-castle.myshopify.com\/products\/stabilizing-an-unstable-economy-9780071592994","provider":"Surprise Castle","version":"1.0","type":"link"}