The Elgar Companion to Hyman Minsky

This collection of specially written papers is a fitting tribute to Hyman Minsky.s work as it relates to the global financial and economic crisis that began in 2007 in the US and quickly spread around the world. Minsky's financial instability hypothesis is widely applied to the course of events in the US from 2004 until the real estate market went bust, with many commentators using his hedge, speculative, and Ponzi classification scheme to analyze the evolution of mortgage markets. Many of Minsky's favorite themes - 'stability is destabilizing', the role of the 'big government' and 'big bank' in constraining endogenous instability, creative destruction and innovation by financial institutions - are taken up in the papers collected in this volume. This Companion makes a lasting contribution to the burgeoning literature assessing the significance of the work of Hyman P. Minsky, the most astute observer of endogenously produced financial fragility.