This is the second part of a three-part analysis of the Minskyan framework. It studies in detail the dynamics at the root of the endogenous financial weakening of capitalist economic systems. This part combines the properties presented in part I with other important concepts, such as the paradox...

This is the first part of a three-part analysis of the Minskyan framework. Via an extensive review of the literature, this paper looks at 12 essential elements necessary to get a good understanding of Minsky's theory, and argues that those elements are central to comprehend how a monetary...

Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has come under strong criticisms from all sides of the academic spectrum and from conservative political...

Different frameworks of analysis lead to different conceptions of financial instability and financial fragility. On one side, the static approach conceptualizes financial instability as an unfortunate by-product of capitalism that results from unpredictable random forces that no one can do...

This paper reviews John King's book on the history of Post Keynesian economics. The reviewers take two views in evaluating the book--one from an older Post Keynesian and the other from a younger Post Keynesian. The two views then comment on King's rendition of the intellectual and institutional...

Arguably, the stability of household finances is the biggest single unknown in the U.S. economy today. We have published several pieces on the issue. After analyzing the household sector closely, the author proposes some hard-nosed solutions for the nation.