on 2008-10-11 13:05 Patrick Bond wrote:
> Or to be more precise, of Minskyian theories. I hope we can quickly
> get beyond these, since as Wray confesses, they are not rooted in the
> real sector
This theory is surely not disconnected from the real sector: it is based
on the income flows of firms and how the assessed margins of safety are
reduced during an economic boom. Thus there is a structural tendency for
financial instability in the very operation of a market based economy
with rentiers. I think this is a reasonable theory with some testable
hypotheses.
On what basis should one *postulate* a deeper ("root") cause than this?
//Dave Z
_______________________________________________
ope mailing list
ope@lists.csuchico.edu
https://lists.csuchico.edu/mailman/listinfo/ope
Received on Sat Oct 11 07:29:30 2008
This archive was generated by hypermail 2.1.8 : Wed Dec 03 2008 - 15:12:03 EST