Minsky’s Moment
Show Less

Minsky’s Moment

An Insider’s View on the Economics of Hyman Minsky

Piero Ferri

At its core this book sets out the analytical and methodological foundations of Minsky’s financial instability hypothesis (FIH). Grounded on the joint work of Piero Ferri and Hyman Minsky, it offers insightful analysis from a unique insider's perspective. The objective is to deepen and enlarge the toolbox used by Minsky and to place the analysis within a dynamic perspective where a meta model, based upon regime switching, can encompass the different forms that the FIH can assume.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 7: Market processes and thwarting systems

Piero Ferri

Abstract

This chapter reproduces the last paper I co-authored with Minsky. The paper considers two long-standing views on business cycles and economic dynamics in general, one emphasizing endogenous stability plus exogenous disturbances, and the second endogenous instability plus institutional containing or thwarting mechanisms. The argument supports the endogenous instability view and leads to an anti-laissez faire theorem and a limitation upon performance theorem.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.