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A Minsky perspective on the global recession of 2009

In: Reforming Capitalism for the Common Good

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Abstract

This chapter presents a Minskyan perspective on the far-reaching economic downturn triggered by the global financial crisis of 2007-2009. It highlights cyclical as well as structural aspects of the downturn (features that are perhaps best understood by drawing on the insight Hyman Minsky gained from John Maynard Keynes and Joseph Schumpeter) and concludes by comparing Minsky's policy outlook with the recovery and reform initiatives actually pursued in response to the crisis.

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  • ., 2022. "A Minsky perspective on the global recession of 2009," Chapters, in: Reforming Capitalism for the Common Good, chapter 20, pages 263-283, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21712_20
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