EconoFiction

Ramping the Markets: Banking on Ponzi Finance

7 Nov , 2017  

When funded pension schemes were first put forward at the beginning of the 1970s as a private sector alternative to state earnings-related pensions, the merchant (investment) banks and stockbroking firms that promoted them did not anticipate how successful they would become in that, by the following decades, pension schemes and ...

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EconoFiction

Orthodoxy of the Neoclassical Synthesis: Minsky’s Capitalism Without Capitalists, Capital Assets, and Financial Markets

30 Aug , 2017  

During the very years when orthodoxy turned Keynesianism on its head, extolling Reaganomics and Thatcherism as adequate for achieving stabilisation in the epoch of global capitalism, Minsky (Stabilizing an Unstable Economy) pointed to the destabilising consequences of this approach. The view that instability is the result of the ...

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EconoFiction, Lexicon

Minsky und die Instabilität der Ökonomie

14 Jun , 2016  

Himan P. Minsky wird gewöhnlich der post-keynesianischen ökonomischen Theorie zugeordnet, genauer gesagt der amerikanischen “Schule”, zu der Autoren wie Weintraub, Moore, Eichner, Kregel etc. gehören. Diese Schule befasst sich im Gegensatz zur europäischen Schule um Kalecki, Robinson, Kaldor, Harcourt etc. stärker mit den monetären und finanziellen Prozesen der Ökonomie. Für ...

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