Stabilizing an Unstable Economy

In this book, Minsky examines the natural inclination of complex, capitalist economies toward instability.

He discusses how booms and busts are unavoidable results of high-risk lending practices and the impact of 'speculative finance' on investment and asset prices.

Minsky also addresses the government's role in bolstering consumption during times of high unemployment and advocates for increased Federal Reserve oversight of banks.

His work is particularly relevant for understanding financial crises and the behavior of economic agents during periods of economic euphoria and subsequent contractions.