Why Minsky Matters
Analysis24 Maalis 2014

Why Minsky Matters

American economist Hyman Minsky died in 1996, but his theories offer one of the most compelling explanations of the 2008 financial crisis. His key idea is simple enough to be a t-shirt slogan: "Stability is destabilising". But TUC senior economist Duncan Weldon argues it's a radical challenge to mainstream economic theory. While the mainstream view has been that markets tend towards equilibrium and the role of banks and finance can largely be ignored, Minsky argued that in the good times the seeds of the next crisis are sown as the financial sector engages in riskier and riskier lending in pursuit of profit. In the aftermath of the financial crisis, this might seem obvious - so why did Minsky die an outsider? What do his ideas say about the response to the 2008 crisis and current policies like Help to Buy? And has mainstream economics done enough to respond to its own failure to predict the crisis and the challenge posed by Minsky's ideas?

Producer: James Fletcher.

Jaksot(389)

The low pay puzzle

The low pay puzzle

From April, 2.7 million workers will get one of the biggest pay rises in UK history as the National Living Wage rises to £11.44 an hour. But will they feel better off?It's 25 years since the National ...

25 Maalis 202429min

How real is the existential threat from AI?

How real is the existential threat from AI?

The existential threat caused by Artificial Intelligence is a popular theme in science fiction. But more recently it’s started to be taken seriously by governments around the world and the companies d...

18 Maalis 202429min

What would Isambard Kingdom Brunel have done?

What would Isambard Kingdom Brunel have done?

It's 2024, and the Manchester extension of HS2 has been cancelled. The leg to Leeds was cancelled in 2021. The remaining line to Birmingham is now less than half the initial planned route, and will co...

11 Maalis 202428min

Power Drive

Power Drive

It's widely believed that the Conservaives won the Uxbridge by-election because of motorists who were annoyed by the London mayor's ultra low emission zone. With a general election looming, both main ...

4 Maalis 202428min

How to cure the small town blues

How to cure the small town blues

Middlesbrough, in the north-east, is one of the most deprived towns in England. Once a steel and shipbuilding powerhouse, its fortunes changed when those industries closed down. Today, the town that G...

26 Helmi 202428min

How to Dismantle a Democracy

How to Dismantle a Democracy

Democracies do not die in military coups. They are dismantled slowly, by libel laws, through tax audits, and procedure. Democracies are dismantled by bureaucrats and judges, not by soldiers and heavy-...

19 Helmi 202428min

What is 'British culture'?

What is 'British culture'?

'What is "British Culture?” I was born in the UK and have lived here for 40 years, and yet, as a British Asian person, I am constantly told “we are not integrating”. Not integrating into what culture ...

12 Helmi 202428min

Has the family had its day?

Has the family had its day?

British politicians love to invoke the family, from John Major's "Back to Basics" campaign, to New Labour's "hardworking families" - and now a prominent strain of the Conservative right says parents s...

5 Helmi 202428min

Suosittua kategoriassa Politiikka ja uutiset

aikalisa
rss-ootsa-kuullut-tasta
tervo-halme
ootsa-kuullut-tasta-2
politiikan-puskaradio
viisupodi
rss-podme-livebox
otetaan-yhdet
et-sa-noin-voi-sanoo-esittaa
rss-vaalirankkurit-podcast
rss-asiastudio
rss-tasta-on-kyse-ivan-puopolo-verkkouutiset
rss-tekkipodi
io-techin-tekniikkapodcast
linda-maria
the-ulkopolitist
rss-polikulaari-humanisti-vastaa-ja-muut-ts-podcastit
rss-kaikki-uusiksi
rss-hyvaa-huomenta-bryssel
rss-merja-mahkan-rahat