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Conclusion: Business Cycle Theory and Economic Policy

In: Induced Investment and Business Cycles

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Abstract

This unique volume presents, for the first time in publication, the original Ph.D. thesis of Hyman P. Minsky, one of the most innovative thinkers on financial markets. Dimitri B. Papadimitriou's introduction places the thesis in a modern context, and explains its relevance today. The thesis explores the relationship between induced investment, the constraints of financing investment, market structure, and the determinants of aggregate demand and business cycle performance. Forming the basis of his subsequent development of financial Keynesianism and his ‘Wall Street' paradigm, Hyman Minsky investigates the relevance of the accelerator-multiplier models of investment to individual firm behaviour in undertaking investment dependent on cost structure. Uncertainty, the coexistence of other market structures, and the behaviour of the monetary system are also explored.

Suggested Citation

  • ., 2004. "Conclusion: Business Cycle Theory and Economic Policy," Chapters, in: Dimitri B. Papadimitriou (ed.), Induced Investment and Business Cycles, chapter 10, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:2947_10
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    Cited by:

    1. Tiziana Russo Spena & Maria Colurcio, 2010. "A Cognitive-Relational View Of Innovation In The Agri-Food Industry: The Fresh-Cut Business," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 14(02), pages 307-329.
    2. Hanadi Al-Mubaraki & Holger Schröl, 2011. "Measuring The Effectiveness Of Business Incubators: A Four Dimensions Approach From A Gulf Cooperation Council Perspective," Journal of Enterprising Culture (JEC), World Scientific Publishing Co. Pte. Ltd., vol. 19(04), pages 435-452.

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    Economics and Finance;

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