Tag Archives: Hyman minsky+financial instability hypothesis

The euro sovereign debt crisis and the irrationality of the bond markets:the need for a lender of last resort

Throughout the history of the capitalist system the markets have played a pivotal role. Of course, the Walrasian conception of markets that inevitably clear temporary gluts and misallocations through the process of tatonnement and the invisible auctioneer is obviously a … Continue reading

Posted in business cycles, classical economics, European debt crisis, European financial stability fund, J.M.Keynes, labour market clearing | Tagged | Leave a comment