A Minskyan Road to Financial Reform

摘要

Senior Scholar L. Randall Wray examines Hyman P. Minsky's approach to reforming the economy and the financial system. According to Minsky, the system should create a financial structure conducive to economic development that improves (broadly defined) living standards. Minsky believed that "industry" should dominate "speculation," and that the most dangerous instability in the capitalist economy was the run up to a euphoric boom.