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Financial Markets Meltdown: What Can We Learn from Minsky

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L. Randall Wray

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Abstract

According to this new Public Policy Brief by Senior Scholar L. Randall Wray, the current crisis in financial markets can be traced back to securitization (the "originate and distribute" model), leverage, the demise of relationship-based banking, and the dizzying array of extremely complex instruments that--quite literally--only a handful understand.

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Paper provided by Levy Economics Institute, The in its series Economics Public Policy Brief Archive with number ppb_94.

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Date of creation: Apr 2008
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Handle: RePEc:lev:levppb:ppb_94

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Dimitri B. Papadimitriou & L. Randall Wray, 1998. "The Economic Contributions of Hyman Minsky: Varieties of Capitalism and Institutional Reform," Macroeconomics 9802018, EconWPA. [Downloadable!]
  2. L. Randall Wray, 2005. "The Ownership Society: Social Security Is Only the Beginning . . ," Economics Public Policy Brief Archive ppb_82, Levy Economics Institute, The. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. L. Randall Wray, 2008. "The Commodities Market Bubble Money Manager Capitalism and the Financialization of Commodities," Economics Public Policy Brief Archive ppb_96, Levy Economics Institute, The. [Downloadable!]
  2. Orlowski, Lucjan T, 2008. "Stages of the 2007/2008 Global Financial Crisis: Is There a Wandering Asset-Price Bubble?," MPRA Paper 12696, University Library of Munich, Germany. [Downloadable!]
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  3. Thomas I. Palley, 2009. "A Theory of Minsky Super-Cycles and Financial Crises," IMK Working Paper 05-2009, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute. [Downloadable!]
  4. Soon Ryoo, 2009. "Long waves and short cycles in a model of endogenous financial fragility," Working Papers 2009-03, University of Massachusetts Amherst, Department of Economics. [Downloadable!]
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