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Minsky’s Vision and its Relationship with The General Theory

In: Advances in Monetary Policy and Macroeconomics

Author

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  • Elisabetta Antoni

Abstract

Minsky is generally considered to be one of the main exponents of the Post Keynesian School (King 2002). He himself presented his theory as an authentic interpretation/a legitimate extension of The General Theory.1 Minsky’s theory flows into his financial instability hypothesis, according to which a financially advanced economy is structurally unstable,2 tending to move through a sequence of an expansion, a speculative boom and a financial crisis followed by a debt deflation and a deep depression. Minsky’s up-to-dateness consists precisely in his placing finance and financial instability at the centre of his analysis.

Suggested Citation

  • Elisabetta Antoni, 2007. "Minsky’s Vision and its Relationship with The General Theory," Palgrave Macmillan Books, in: Philip Arestis & Gennaro Zezza (ed.), Advances in Monetary Policy and Macroeconomics, chapter 10, pages 174-191, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-80076-2_10
    DOI: 10.1057/9780230800762_10
    as

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