In this working paper Distinguished Scholar Hyman P. Minsky explores the theoretical and practical causes of today's rising economic uncertainty and insecurity. He begins by noting views of uncertainty held by Keynes and adherents of the new classical economics by comparing Keynes's The Treatise...

"Cycles, Growth and the Great Recession is a collection of papers that assess the nature and role of the business cycle in contemporary economies. These assessments are made in the context of the financial market instability that distinguishes the Great Recession from previous post-war...

Contents: Preface -- 1: Overview -- Part I: "It" happened again -- 2. The Minsky moment and the economics of Minsky -- 3. A synoptic view of the financial instability hypothesis -- 4. An insider's view -- Part II: Co-Authoring -- 5. Prices, employment and prices -- 6. The breakdown of the IS-LM...