The presentations at this conference are by economists from Academies and economists who professionally confront real world problems, either in private finance or in public policy. As economists we accept that the remarks made by Keynes in the closing passage of The General Theory are true:...

Deposit insurance, the savings and loan industry, facets of the insurance industry, and a significant number of private banks have all been plagued by recent collapse. The legislative agenda goes beyond merely funding the shortfall in deposit insurance funds: Congress has suggested that...

The Financial Instability Hypothesis (FIH) has both empirical and theoretical aspects that challenge the classic precepts of Smith and Walras, who implied that the economy can be best understood by assuming that it is constantly an equilibrium-seeking and sustaining system. The theoretical...

Banking plays two roles in a modern capitalist economy: It provides a means of payment and channels resources into capital development. These functions are being performed to a decreasing extent by banks, and it appears that this trend will continue. Such developments suggest that the economic...

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...