GhostOnTheHalfShell, (edited )
@GhostOnTheHalfShell@masto.ai avatar

@economics@a.gup.pe

#SteveKeen #economics

Toothsome 1995 paper.

Finance and Economic Breakdown: Modeling Minsky's "Financial Instability Hypothesis"

Minus the math, which can be skipped over, for his discussion, the paper lays out the basics of modern economics wrt to economic cycles and labor v capitalist v creditor (banks) income.

It’s the basic model to reason about our economy and its state.

https://keenomics.s3.amazonaws.com/debtdeflation_media/papers/JPKE1995PageImage9509152794.pdf

also on JSTOR

https://www.jstor.org/stable/4538470

🧵

GhostOnTheHalfShell, (edited )
@GhostOnTheHalfShell@masto.ai avatar

@economics

Of the thoughts I have of

  1. what happens to system dynamics if a “big enough” portion worker & capitalist sector merges under co-ops? more generally any two classes
  2. interest pricing to control debt demand is economic cancer
  3. financial institutions were/are lending factories by policy construction. in today’s economy they are agents of the ponzi scheme, see GFC.
  4. from the paper not weak taxation destabilizes system dynamics of the economy (cancer)
HistoPol,
@HistoPol@mastodon.social avatar

@GhostOnTheHalfShell

What do you mean by co-ops?
@economics@a.gup.pe

GhostOnTheHalfShell,
@GhostOnTheHalfShell@masto.ai avatar
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