Uploaded September 2016 | Updated September 2026, 3 weeks ago
Professor L. Randall Wray discussing the Minskyian view (and that of Post-Keynesians in general) that markets are inherently unstable. If not bounded and constrained by institutions (either private sector or government) then they have a natural tendency towards boom/bust cycles, often escalating ones, in part due to the nature of the financial system, as outlined in Minsky's Financial Instability Hypothesis. See more about that here: youtube.com/watch?v=KaQdgBBTgRI&list=PLZJAgo9FgHWbwdIi8s0l2EU7XtEGEeLln&index=2.
See the whole interview here: youtube.com/watch?v=5P_J9IJqxaY
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Professor L. Randall Wray discussing the Minskyian view (and that of Post-Keynesians in general) that markets are inherently unstable. If not bounded and constrained by institutions (either private sector or government) then they have a natural tendency towards boom/bust cycles, often escalating ones, in part due to the nature of the financial system, as outlined in Minsky's Financial Instability Hypothesis. See more about that here: youtube.com/watch?v=KaQdgBBTgRI&list=PLZJAgo9FgHWbwdIi8s0l2EU7XtEGEeLln&index=2.
See the whole interview here: youtube.com/watch?v=5P_J9IJqxaY
Follow Deficit Owls on Facebook and Twitter:
facebook.com/DeficitOwls
twitter.com/DeficitOwls
