Letters and Politics

The History of the Financial Instability Cycle and the Hyman Minsky’s Model

Alan Minsky, Program Director at Pacifica’s KPFK in Los Angeles joins us to talk about the boom and bust cycle that occurs repeatedly in capitalist economies.  Minsky’s father,  Hyman Minsky was the proponent of the Financial Instability Model that states that long periods of financial stability lead to optimism, which ultimately leads to irresponsible speculation and instability.

The documentary Boom Bust Boom explores the economic collapse of 2008.  Economist Hyman Minsky is the main character and hero of this film.

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