Thursday, December 1, 2011
Is there a way out?
Did Minsky see a solution to our economic problems? Focus on the last paragraph of the following link: It seems he had a similar opinion 30 years ago that I do today - that there is no real solution right now so long as our political environment stays the way it is. And if you read closely, he suggests that that is unlikely to change unless our teachers of today (our academic economists and teachers of future leaders) wise up to reality. This suggests to me a slow process that must start with challenging the 'official' or mainstream economics of the day. Read the whole thing as it's one of my favorite Minsky publications.