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Financial Keynesianism and Market Instability

The Economic Legacy of Hyman Minsky, Volume I Edited by Riccardo Bellofiore, Professor of Political Economy, University of Bergamo, Italy and Piero Ferri, Professor Emeritus of Economics, University of Bergamo, Italy
During his lifetime Hyman Minsky made a seminal contribution to the development of financial Keynesianism. In this book, leading academics celebrate his work and explore his economic legacy.

Special attention is paid to his work on contemporary economic method, the Great Depression, the European single currency and the global financial system and recent banking and financial crises – in particular the crisis in Asia. An attempt is made to categorise Minsky’s brand of post Keynesianism and to compare his work with the Keynesian and Marxian traditions.
Extent: 240 pp
Hardback Price: $134.00 Web: $120.60
Publication Date: 2001
ISBN: 978 1 84064 358 9
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  • eISBN: 978 1 78100 974 1

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  • Economics and Finance
  • Economic History
  • Financial Economics and Regulation
  • History of Economic Thought
  • Post-Keynesian Economics
During his lifetime Hyman Minsky made a seminal contribution to the development of financial Keynesianism. In this book, leading academics celebrate his work and explore his economic legacy.

Special attention is paid to his work on contemporary economic method, the Great Depression, the European single currency and the global financial system and recent banking and financial crises – in particular the crisis in Asia. An attempt is made to categorise Minsky’s brand of post Keynesianism and to compare his work with the Keynesian and Marxian traditions.

This illuminating book will be of interest to scholars of financial economics, post Keynesian economics and the history of economic thought.
‘This collection of essays is a must-have for anyone writing or thinking about economic and financial stability. . . These essays not only vindicate Minsky’s theoretical approach to macroeconomics, but they also demonstrate why his framework is uniquely appropriate for the study of modern capitalist economies.’
– Stephanie A. Bell, Eastern Economic Journal

‘This two-volume set offers a timely tribute to Hyman Minsky. . . This collection of essays is a must-have for anyone writing or thinking about economic and financial stability. . . . These essays not only vindicate Minsky’s theoretical approach to macroeconomics, but they also demonstrate why his framework is uniquely appropriate for the study of modern capitalist economies.’
– Stephanie A. Bell, Eastern Economic Journal

‘The contributions to this volume celebrate, extend, and apply the innovative theoretical contributions of Hyman Minsky . . .’
– Rajiv Sethi, Journal of Economic Literature
Contributors: P. Arestis, R. Bellofiore, V. Chick, R.H. Day, E. Fano, P. Ferri, D.K. Foley, S. Keen, J.A. Kregel, P. Mehrling, D.B. Papadimitriou, M. Sawyer, A.M. Variato, L.R. Wray
Contents: Introduction: ‘Things Fall Apart, the Centre Cannot Hold’ Part I: The Background 1. Economics in the Spirit of Minsky 2. Cassandra as Optimist 3. Hyman Minsky and the Dilemmas of Contemporary Economic Method 4. H.P. Minsky’s Reading of the Great Depression 5. Hyman Minsky: What Kind of (post) Keynesian? 6. Minsky’s Thesis: Keynesian or Marxian? Part II: Money and Finance 7. Minsky’s Analysis of Financial Capitalism 8. Minsky, Modern Finance and the Case of Long Term Capital Management 9. Recent Banking and Financial Crises: Minsky versus the Financial Liberalizationists 10. Minsky’s Analysis, the European Single Currency and the Global Financial System 11. Yes, ‘It’ Did Happen Again – The Minsky Crisis in Asia Index