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Stabilizing an Unstable Economy: A Twentieth Century Fund Report

4.18  ·  Rating details ·  258 ratings  ·  20 reviews

“Mr. Minsky long argued markets were crisis prone. His 'moment' has arrived.” -The Wall Street Journal

In his seminal work, Minsky presents his groundbreaking financial theory of investment, one that is startlingly relevant today. He explains why the American economy has experienced periods of debilitating inflation, rising unemployment, and marked slowdowns-and why the

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Hardcover, 353 pages
Published September 10th 1986 by Yale University Press
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Vivian
Aug 24, 2012 rated it really liked it
Hyman Minsky huh
Minsky, who taught at Washington University in St. Louis, was a marginalized figure throughout his professional life, and died, still marginalized, in 1996. And to be honest, Minsky’s heterodoxy wasn’t the only reason he was ignored by the mainstream. His books are not, to say the least, user-friendly; nuggets of brilliant insight are strewn thinly across acres of turgid prose and unnecessary algebra. And he also cried wolf too often; to paraphrase an old joke by Paul Samuelson,
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Nick Klagge
Mar 04, 2012 rated it really liked it
Shelves: economics
As with any classic, it's hard for me to gauge my feelings about this book now, and they may well be different several months on. But I'm very glad to have read it. For those who are not econ nerds, Minsky was an economist in the second half of the 20th century who was non-mainstream but whose views came back into vogue after the financial crisis, which appeared to validate his theories.

The only math in this book is algebra, mostly to do with simplified national accounting identities. In this
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Steve
Nov 09, 2019 rated it liked it
Stabilizing An Unstable Economy is a comprehensive analysis of the post World War II supposedly capitalist system, written in 1986 just following America's bout with stagflation. Mr. Minsky goes to great lengths to explain the misappropriation of Keynesian concepts, indeed the general (neoclassical) misunderstanding of Keynes, done largely for short-term political purposes. Mr. Minsky sees Big Government as the comfort blanket for today’s society; here I agree. He sees the largest risk, however, ...more
Paul Ducard
Jul 13, 2013 rated it really liked it
A very difficult read in many spots but I think I got most of his arguments. I found it entertaining how much of what he wrote 20 years ago seems all together familiar and applicable today.
John Stelwagon
Jun 23, 2019 rated it it was ok
Some interesting ideas that are certainly timely but the writing style killed any sense of thematic momentum. I think I will find myself reading commentary and analysis of Minsky's ideas.
Gregg Wingo
Mar 21, 2013 rated it it was amazing
This work of Minsky focuses on his Financial Instability Hypothesis and is a direct challenge to the market efficiency assumptions of the Neoclassical synthesis. It is also a reflection of the cost of Fordism through Keynesian mechanisms or inflation. But chiefly the book is an indictment of financial capitalism and continues a line of economic thought from Smith to Marx to Keynes. Minsky is a critical link in the Smith-Marx-Keynes-Sraffa-Schumpeter-Minsky synthesis.

Minsky recognizes the
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Alex
Dec 05, 2018 rated it it was amazing
the pricing section kicks ass
Kayce Basques
Mar 11, 2018 rated it really liked it
Fascinating analytical framework. Difficult to read... Lots of passive voice.
Andrew
Stabilizing an Unstable Economy, by Hyman Minsky, is a wonderful, but complex book on macroeconomic theory. Minsky examines the United States of the post WWII era (up to the 90's) and dissects the inherent instability in the system. His book is widely credited with "predicting" the crash of '08, although this is mostly through economic modeling and prediction on credit swapping and a growing "small government" movement within the US Federal Reserve.

Minsky's book was highly interesting, and very
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Diego
Sep 30, 2011 rated it really liked it
Shelves: economía
Una versión alternativa de las crisis desde la gran depresión, partiendo de una visión post-keynesiana. Un muy buen libro para entender algunas características y fallas del sistema capitalista en el siglo XX con algunas ideas interesantes sobre como fortalecer el sistema y eliminar sus inestabilidades endogenas.

Muy recomendando para los interesados en Macroeconomía y Economía Política.
P
Feb 12, 2014 rated it liked it
The Financial Instability Theory is one of the most important economic ideas of the last 50 years, but the length and dry style makes this best-suited for people truly interested in economics.
Marta
Dec 12, 2010 rated it it was amazing
A must read :)
A Reader
Jan 18, 2012 rated it really liked it
Shelves: economics
It is remarkable that this book, 25 years since its publication it more relevant than ever.
Darrel Pfingston
Jan 25, 2013 rated it really liked it
written in 1986. reasonably describes the dot.com bubble/crash and the sub-Prime mortgage bubble/crash. proposition has credibility.
Barry Scatton
Nov 21, 2011 rated it liked it
Finally got around to finishing this. I enjoyed reading Minsky's analysis even though I disagree with his ideas on monetary policy. If financial markets are your thing it's worth reading.
!Tæmbuŝu
Jan 07, 2012 marked it as to-read
Shelves: economics
Parashar B.
Dec 02, 2012 rated it really liked it  ·  review of another edition
This book is really technical, but a very good read.
Deniz Kabaağaç
Jan 28, 2015 rated it really liked it  ·  review of another edition
Shelves: economics
It is difficult but eloquent. It is different and meaningful. It certainly deserves a detailed second reading
George Jankovic
May 07, 2016 rated it it was amazing
One of the best economics books. It explains how bubbles form and why in economic, and not just psychological, terms.
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Sep 01, 2015
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The Financial Crisis 1 5 Nov 28, 2008 11:09PM  

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Hyman Philip Minsky (September 23, 1919 – October 24, 1996) was an American economist, a professor of economics at Washington University in St. Louis, and a distinguished scholar at the Levy Economics Institute of Bard College. His research attempted to provide an understanding and explanation of the characteristics of financial crises, which he attributed to swings in a potentially fragile ...more
“A capitalist economy cannot be maintained, however, if it oscillates between threats of an imminent collapse of asset values and employment and threats of accelerating inflation and rampant speculation, especially if the threats are sometimes realized. If the market mechanism is to function well, we must arrange to constrain the uncertainty due to business cycles so that the expectations that guide investment can reflect a vision of tranquil progress.” 2 likes
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