Minsky

Key Contemporary Thinkers (Polity)

by Daniel Neilson

No economist has written more incisively and provocatively on financial crisis than Hyman Minsky. Minsky is best known for his claim that "stability is destabilizing" – that the seeds of the bust are sown in the boom. This financial instability hypothesis received renewed attention – and substantial confirmation – in the global financial crisis of 2008.  Minsky's insights are not limited to moments of crisis; they grow out of a comprehensive and critical theory of financial capitalism. This book provides a systematic overview of Minsky's thought, covering his entire body of work. It shows how financial crises arise not as exceptions, but out of the normal operation of a financial capitalist system. It explains why Minsky's theories sit uncomfortably with economics and what efforts have been made to integrate them, and shows how Minsky's work can be incorporated into other fields of social thought. This book will be of interest to students and scholars in economics, political economy, finance, politics, and social theory, as well as to anyone with an interest in the financial system and its tendency toward crisis.

224 pages, Paperback

Published September 16, 2019

Reviews

[Winmonroe · Rating 4 out of 5]

8/10

A concise, accessible overview of Minsky's work, career, and how his ideas fit in (or not) with current economic thought. Neilson's reading draws heavily on the perspective from Mehrling with its emphasis on the survival constraint, but also provides a lot of fresh thought and points not included in most banking focused interpretations. A great entry point for anyone wanting to learn more about Minksy and his work.

[Floris · Rating 5 out of 5]

An excellent introduction to the work of Minsky. The book contains a good balance between quotes from the different works of Minsky and explanation.
Though the book is relatively thin (which I think is a plus), it definitely adds to the short bits about Minsky in the media. The main ideas are well worked out, and the author shows the development of Minsky's thought in his life.