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Marc Lavoie, “Post-Keynesian Economics: New Foundations” (Edward Elgar, 2014)

New Books in Economics

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The Paradox of Debt

The first paradox essentially is the one that has been underlined by Heimann Minsky. It's the idea that the more things look tranquil, the more likely it will become unstable. There are a few other paradoxes, one that is not in the book, but I came across afterwards is the paradox of degrading standards. You get the impression that everything is going well, but in fact, it will not.

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