Hyman Minsky: Forgotten Economist with Insight for Today's Economy
Financial Stability and the Levy Economics Institute
Hyman Philip Minsky (September 23, 1919 - October 24, 1996) was an American economist and professor of economics at Washington University in St. Louis. He was also a distinguished scholar at the Levy Economics Institute of Bard College.
Minsky's Legacy
Minsky grew up during the Great Depression, an event that shaped his views on economics. He argued that the financial system is inherently unstable and that periods of prosperity inevitably lead to crises. Minsky's work on financial instability has gained renewed attention in recent years, as the global financial crisis of 2008 has shown that his insights were prescient.
The Levy Economics Institute is a research organization that promotes the study of Hyman Minsky's work. The Institute's website contains a wealth of information on Minsky's life and work, including his papers, correspondence, and notes.
Conclusion
Hyman Minsky was a brilliant economist whose work on financial instability has important implications for today's economy. His insights into the inherent instability of the financial system provide a valuable warning against complacency and overconfidence. Minsky's work is a reminder that we must always be vigilant in our efforts to prevent financial crises.
Comments