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The socialization of investment, from Keynes to Minsky and beyond
Bellofiore, Riccardo - 2014
insights of Karl Marx on labor, as well as those of Hyman Minsky on finance. The best way to do this is within a longer …-like, nonmechanical view about long waves, where Minsky's financial Keynesianism is integrated with Marx's focus on capitalist relations … book on Keynes. …
Persistent link: https://www.econbiz.de/10010457216
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Minsky crisis
Wray, L. Randall - 2011
Stability is destabilizing. These three words concisely capture the insight that underlies Hyman Minsky's analysis of the economy's transformation over the entire postwar period. The basic thesis is that the dynamic forces of a capitalist economy are explosive and must be contained by...
Persistent link: https://www.econbiz.de/10008906540
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A Minskyan road to financial reform
Wray, L. Randall - 2011
In the aftermath of the global financial collapse that began in 2007, governments around the world have responded with reform. The outlines of Basel III have been announced, although some have already dismissed its reform agenda as being too little (and too late!). Like the proposed reforms in...
Persistent link: https://www.econbiz.de/10008906563
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Financial Keynesianism and market instability
Wray, L. Randall - 2011
two years ago is a classic "Fisher-Minsky" debt deflation. The appropriate way to analyze this transformation and collapse … it emphasized the financial nature of the capitalist economy he analyzed. -- Hyman Minsky ; Fisher-Minsky Debt Deflation …
Persistent link: https://www.econbiz.de/10008906576
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Minsky's money manager capitalism and the global financial crisis
Wray, L. Randall - 2011
Rudolf Hilferding, Thorstein Veblen, and John Maynard Keynes - and later by John Kenneth Galbraith. In an important sense … in the New Deal. -- Hyman Minsky ; Hilferding ; Veblen ; Keynes ; John Kenneth Galbraith ; Financial Crisis ; Minsky …
Persistent link: https://www.econbiz.de/10008933495
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The dismal state of macroeconomics and the opportunity for a new beginning
Wray, L. Randall - 2011
postwar period - from the "Age of Keynes" through the Friedmanian era and the return of Neoclassical economics in a … earlier Keynesian tradition to see what was left out of postwar macro. For example, the synthesis version of Keynes never … incorporated true uncertainty or "unknowledge" and thus deviated substantially from Keynes's treatment of expectations in chapters …
Persistent link: https://www.econbiz.de/10008906589
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Is there room for bulls, bears, and states in the circuit?
Wray, L. Randall - 2011
John Maynard Keynes's liquidity preference theory, Kregel argued that such rejection leaves the relation between money and …. -- Circuit Approach ; Liquidity Preference ; Banks as Ephor of Capitalism ; J. M. Keynes ; J. A. Schumpeter ; A. Parguez ; J. A …
Persistent link: https://www.econbiz.de/10009523597
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Introduction to an alternative history of money
Wray, L. Randall - 2012
Persistent link: https://www.econbiz.de/10009530288
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Secular stagnation or stagnation policy? : Steindl after summers
Hein, Eckhard - 2015
The current debate on secular stagnation is suffering from some vagueness and several shortcomings. The same is true for the economic policy implications. Therefore, we provide an alternative view on stagnation tendencies based on Josef Steindl’s contributions. In particular, Steindl (1952)...
Persistent link: https://www.econbiz.de/10011349456
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Uncertainty and contradiction : an essay on the business cycle
Nikiforos, Michalis - 2013
This paper presents a discussion of the forces at play behind the economic fluctuations in the medium run and their relation with the short-run macroeconomic equilibrium. The business cycle is the result of two separate phenomena. On the one hand, there is the instability caused by the...
Persistent link: https://www.econbiz.de/10009773474