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)

Is ethical surrogacy possible?

Is ethical surrogacy possible?

Does becoming a surrogate mother exploit or empower a woman? UK surrogacy law is under review, and there's a renewed debate around how it should be regulated. The war in Ukraine highlighted this, as ...

10 Loka 202228min

What's the point of street protest?

What's the point of street protest?

Is a protest march worth your effort? About a million people attended the Stop the War street protest in 2003. About half a million had marched to protest against the fox hunting ban a year earlier. M...

3 Loka 202228min

Addiction in the age of the metaverse

Addiction in the age of the metaverse

Are we past the point of no return when it comes to our obsession with online technology? Elaine Moore considers her own tech use and explores our future in the metaverse.According to a YouGov poll, t...

25 Heinä 202229min

Is the UK the new sick man of Europe?

Is the UK the new sick man of Europe?

Throughout the 1960s and 1970s, the United Kingdom was sometimes characterised as the 'sickman of Europe' due to industrial strife and poor economic performance compared to other European countries. T...

18 Heinä 202228min

What is childcare for?

What is childcare for?

Is formal childcare for pre-school children there to provide an early years education? Or to allow parents to go out to work? Politicians would say both, but many argue the UK’s system is failing to d...

11 Heinä 202229min

Beyond the cost of living crisis

Beyond the cost of living crisis

The Bank of England says inflation might reach 11 per cent this year. There are warnings that some people will have to choose between heating and eating. But what does it mean for the whole economy wh...

4 Heinä 202228min

Cashing in on the green rush

Cashing in on the green rush

Some countries have legalised cannabis, often with the hope of kick-starting a lucrative new source of tax revenue - but just how profitable has it been?Aside from a few fact-finding trips, the prospe...

27 Kesä 202228min

Germany and Russia: It's Complicated

Germany and Russia: It's Complicated

In late February, three days after the Russian invasion of Ukraine, the German Chancellor Olaf Scholz made a landmark speech in the German parliament, the Bundestag. The invasion, he declared, represe...

20 Kesä 202229min

Suosittua kategoriassa Politiikka ja uutiset

aikalisa
rss-ootsa-kuullut-tasta
tervo-halme
ootsa-kuullut-tasta-2
politiikan-puskaradio
viisupodi
et-sa-noin-voi-sanoo-esittaa
otetaan-yhdet
rss-podme-livebox
rss-vaalirankkurit-podcast
rss-asiastudio
the-ulkopolitist
rss-kaikki-uusiksi
rss-tekkipodi
io-techin-tekniikkapodcast
rikosmyytit
rss-mina-ukkola
rss-fingo-podcast
rss-hyvaa-huomenta-bryssel
rss-merja-mahkan-rahat