Foreword by Henry Kaufman VB
Preface and Acknowledgments to the First Edition
by Hyman P. Minsky ix
Minsky's Stabilizing an Unstable Economy: Two Decades Later
by Dimitri B. Papadimitriou and L. Randall Wray xi
PART 1: INTRODUCTION 1
1. ECONOMIC PROCESSES, BEHAVIOR, AND POLICY 3
PART 2: ECONOMIC EXPERIENCE 13
2. A DEEP RECESSION BUT NOT A DEPRESSION IN 1975: THE IMPACT OF BIG GOVERNMENT 15
3. A DEEP RECESSION BUT NOT A DEPRESSION IN 1975: THE IMPACT OF LENDER-OF-LAST-RESORT INTERVENTION 43
4. THE EMERGENCE OF FINANCIAL INSTABILITY IN THE POSTWAR ERA 77
PART 3: ECONOMIC THEORY 107
5. PERSPECTIVES ON THEORY 109
6. THE CURRENT STANDARD THEORY: THE AFTER-KEYNES SYNTHESIS 129
7. PRICES AND PROFITS IN A CAPITALIST ECONOMY 157
8. INVESTMENT AND FINANCE 191
9. FINANCIAL COMMITMENTS AND INSTABILITY 219
PART 4: INSTITUTIONAL DYNAMICS 247
10. BANKING IN A CAPITALIST ECONOMY 249
11. INFLATION 283
PART 5: POLICY 317
12. INTRODUCTION TO POLICY 319
13. AN AGENDA FOR REFORM 327
APPENDIX A: FINANCING STRUCTURES 371
APPENDIX B: CONSUMER PRICES AND REAL WAGES 381
