Stabilizing an Unstable Economy - Grand Format

"Twenty-five years ago, when most economists were extolling the virtues of financial deregulation and innovation, a maverick named Hyman P. Minsky maintained a more negative view of Wall Street ; in fact, he noted that bankers, traders, and other financiers periodically played the role of arsonists, setting the entire economy ablaze." - John Cassidy, The New Yorker- "The journey from subprime mortgages to a major credit crisis, a weak economy and broken business models in finance could all have been foreseen through Hyman Minsky's perspectives.
His work remains essential to understanding the ground beneath us and the path ahead." - George Magnus, Senior Economic Adviser, UBS Investment Bank - "It is time to revive an old issue : Just how inherently unstable are economies ? But instead of getting much guidance these days from contemporary economists, we need to turn to some of the giants from the past. The work of Hyman Minsky...is especially on the mark." - Jeff Madrick, The New York Times - "Hyman Minsky's work has never been more valuable.
His financial instability hypothesis, complete with hedge, speculative and Ponzi units, has played out to a T in the U.S. property and mortgage markets over the last half decade." - Paul McCulley, Managing Director, PIMCO -