Why Minsky Matters
Analysis24 Mars 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.

Avsnitt(389)

The Advertising Trap

The Advertising Trap

Digital advertising fuels the digital economy, but is it all based on smoke and mirrors? Ed Butler investigates what some claim is a massive collective deception - a trillion dollar marketing pitch th...

13 Juni 202227min

Can Nationalism be a Force for Good?

Can Nationalism be a Force for Good?

Arguments over the value of nationalism seem to have been raging for centuries, even though the nation state as we know it has only become widespread in the last two hundred years.In this programme, D...

6 Juni 202227min

From Russia with love

From Russia with love

As Russia’s brutal war with Ukraine enters its fourth month, Edward Stourton asks who Russia's allies and friends are and looks at the nation's influence overseas. While President Putin has made no s...

30 Maj 202228min

The Court of Putin

The Court of Putin

In the wake of the greatest crisis to hit Europe since the Second World War, former Moscow correspondent Tim Whewell examines the president, people and processes that led to that momentous decision, a...

21 Mars 202227min

Can the UK ever be a low tax economy again?

Can the UK ever be a low tax economy again?

As tax rises hit pay packets next month is this an end to traditional Conservative low tax policy? The UK government has so far defied calls from across the political spectrum to shelve the planned 1....

14 Mars 202228min

Ending Violence

Ending Violence

Is a world without violence possible? Violence blights the lives of countless individuals each year. The Crime Survey of England and Wales suggests there were 1.2 million incidents of violent crime in...

7 Mars 202228min

The case for public service reform

The case for public service reform

Chris Naylor asks if there's a better way to deliver public services. Many of these were designed nearly a century ago to address the challenges of that time; from cradle to grave, offering help and s...

28 Feb 202228min

Planning, Housing and Politics

Planning, Housing and Politics

How can the planning system adapt so we can build new homes without alienating voters? Barrister and author Hashi Mohamed investigates, focussing on the system in England. The government has pledged t...

21 Feb 202228min

Populärt inom Politik & nyheter

aftonbladet-krim
svenska-fall
p3-krim
rss-krimstad
spar
fordomspodden
flashback-forever
rss-sanning-konsekvens
aftonbladet-daily
rss-vad-fan-hande
motiv
rss-expressen-dok
rss-frandfors-horna
dagens-eko
rss-krimreportrarna
politiken
blenda-2
rss-aftonbladet-krim
rss-flodet
olyckan-inifran