Prompted by the 2008 crash, new dynamic models of financial markets are being built. Steve Keen has teamed up with computer programmer Russell Standish to develop the first systems-dynamics computer program – aptly named Minsky – which is a disequilibrium model of the economy that takes the feedbacks of banks, debt and money seriously. As Keen told me in his characteristic style, ‘Minsky finally gives wings to the economic bird, so at last we’ll have a chance of understanding how it flies.’
