IN CONTEXT
Banking and finance
Hyman Minsky (1919–96)
1933 American economist Irving Fisher shows how debt can cause depression.
1936 British economist John Maynard Keynes claims the financial markets have a larger role in the functioning of the economy than was previously thought.
2007 Lebanese-American risk theorist Nassim Nicholas Taleb publishes The Black Swan, which criticizes the risk-management procedures of financial markets.
2009 Paul McCulley, former managing director of a large US investment fund, coins the term “Minsky moment” for the point at which booms bust.
The instability of economic systems has been debated ...
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