I had to look up JR's new moniker.
The first google link was to a New Yorker article describing Minsky and his ideas about financial instability. The article was from February 2008. One line caught my attention:
QuoteToday, with the subprime crisis seemingly on the verge of metamorphosing into a recession...
The article goes on to comment on how economic policy needs to change. Prophetic words.
http://www.newyorker.com/talk/comment/2008/02/04/080204taco_talk_cassidy
Good article, and good thinking by Minsky (though obviously I'm a very biased observer). I think that the most important goal of Obama's administration would be to reform financial regulation, and to also protect those reforms so they won't get torn down as "too onerous or outdated" during the next mania.
Unfortunately, Obama's actual performance so far has been highly disappointing, IMO, and did not match his unusually insightful rhetoric. I hope he gets better at it, or that I'm wrong about it.
Highly recommended:
http://www.amazon.com/Stabilizing-Unstable-Economy-Hyman-Minsky/dp/0071592997
For a short summary of the Financial Instability Hypothesis: http://www.levy.org/pubs/wp74.pdf
Quote from: DGuller on March 23, 2009, 04:16:07 PM
Good article, and good thinking by Minsky (though obviously I'm a very biased observer). I think that the most important goal of Obama's administration would be to reform financial regulation, and to also protect those reforms so they won't get torn down as "too onerous or outdated" during the next mania.
Exactly how do suggest that he do the bolded part?
Quote from: crazy canuck on March 23, 2009, 04:03:48 PM
I had to look up JR's new moniker.
The first google link was to a New Yorker article describing Minsky and his ideas about financial instability. The article was from February 2008. One line caught my attention:
QuoteToday, with the subprime crisis seemingly on the verge of metamorphosing into a recession...
The article goes on to comment on how economic policy needs to change. Prophetic words.
http://www.newyorker.com/talk/comment/2008/02/04/080204taco_talk_cassidy
Well that's an interesting read. Seems that this Minsky person was quite prophetic after all! And it seems his ideas of the boom-bust cycle has been happening as a normal economic course anyway.
Quote from: dps on March 24, 2009, 01:58:49 AM
Quote from: DGuller on March 23, 2009, 04:16:07 PM
Good article, and good thinking by Minsky (though obviously I'm a very biased observer). I think that the most important goal of Obama's administration would be to reform financial regulation, and to also protect those reforms so they won't get torn down as "too onerous or outdated" during the next mania.
Exactly how do suggest that he do the bolded part?
Put Phil Gram in a box.
Quote from: dps on March 24, 2009, 01:58:49 AM
Quote from: DGuller on March 23, 2009, 04:16:07 PM
Good article, and good thinking by Minsky (though obviously I'm a very biased observer). I think that the most important goal of Obama's administration would be to reform financial regulation, and to also protect those reforms so they won't get torn down as "too onerous or outdated" during the next mania.
Exactly how do suggest that he do the bolded part?
Good question.
Quote from: dps on March 24, 2009, 01:58:49 AM
Quote from: DGuller on March 23, 2009, 04:16:07 PM
Good article, and good thinking by Minsky (though obviously I'm a very biased observer). I think that the most important goal of Obama's administration would be to reform financial regulation, and to also protect those reforms so they won't get torn down as "too onerous or outdated" during the next mania.
Exactly how do suggest that he do the bolded part?
Kick Texas out of the Union.
Quote from: Fate on March 24, 2009, 10:20:01 AM
Kick Texas out of the Union.
Hey you fought a war with Mexico over who got stuck with Texas. I hear Mexico won.