ENGLISH

The Rise and Fall of Money Manager Capitalism: Minsky’s Half Century from World War Two to the Great Recession

By L. Randall Wray , Éric Tymoigne

Book information

Publisher
Routledge
Year
2013
ISBN
0415591937, 9780415591935
Language
english
Format
PDF
Filesize
5 MB (4920755 bytes)
Series
Routledge Critical Studies in Finance and Stability
Edition
1
Pages
312\311
Orientation
portrait
Paginated
yes
Scanned
no
Time added
2020-11-19 17:21:51

Description

The book studies the trends that led to the worst financial crisis since the Great Depression, as well as the unfolding of the crisis, in order to provide policy recommendations to improve financial stability. The book starts with changes in monetary policy and income distribution from the 1970s. These changes profoundly modified the foundations of economic growth in the US by destroying the commitment banking model and by decreasing the earning power of households whose consumption has been at the core of the growth process. The main themes of the book are the changes in the financial structure and income distribution, the collapse of the Ponzi process in 2007, and actual and prospective policy responses. The objective is to show that Minsky’s approach can be used to understand the making and unfolding of the crisis and to draw some policy implications to improve financial stability.

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