This paper contrasts the economic incentives implicit in the Keynes-Minsky approach to inherent financial market … instability with the incentives behind the traditional equilibrium approach leading to market stability to provide a framework for … instability created by the expansion, through securitization, of the mortgage market as an example of these changes. …

. The article critically revisits Minsky's financial fragility hypothesis, advancing his insights into the analysis of … explored: financial liberalization, progressive illiquidity, and the debt burdens incurred during the periods of investor …

buys goods and goods buy money, but goods do not buy goods. (2) Money is always debt; it cannot be a commodity from the … first proposition because, if it were, that would mean that a particular good is buying goods. (3) Default on debt is … literature on money. The approach taken here is integrated with Hyman Minsky’s (1986) work (which relies heavily on the work of …

buys goods and goods buy money, but goods do not buy goods. (2) Money is always debt; it cannot be a commodity from the … first proposition because, if it were, that would mean that a particular good is buying goods.(3) Default on debt is … literature on money. The approach taken here is integrated with Hyman Minsky's (1986) work (which relies heavily on the work of …

analysis of financial instability provided by various strands of heterodox economics got it "right" and that mainstream … economics got it "wrong". In this paper two variants of heterodox views about financial instability are compared critically: the … views of the late Hyman P. Minsky on the one hand, and the theses of the Austrian School on the other. It is concluded that …