Whalen, Charles; Wenger, Jeffrey - In: Challenge 45 (2002) 6, pp. 70-92
One reason the U.S. economy has enjoyed more stability in the post-World War II era is its automatic stabilizers. Markets on their own do not adjust rapidly or without undue pain. The authors, like their mentor on this issue, the late Hyman Minsky, argue that they may indeed collapse into a...