In the first half of this lecture, I discuss the economists who influenced Minsky–Marx, Fisher, Schumpeter and Keynes–as a prelude to outlining Minsky’s Financial Instability Hypothesis. (PPT File: Debtwatch Subscribers; CfESI Members).
In the lecture I inadvertently slandered Eugene McCarthy while explaining the McCarthyist “Communist Witch Hunt” days in the USA to my students. It would have been career suicide for Minsky to acknowledge that he had read Marx by citing him in an academic paper. I meant Joe McCarthy of course.
Having outlined Minsky’s Financial Instability Hypothesis, I explain the mathematical model I developed of it, on the foundation of Richard Goodwin’s “Growth Cycle” model of capitalism. (PPT File: Debtwatch Subscribers; CfESI Members)