| Why Capitalism Fails; The Man who Saw the Meltdown Coming Had another Troubling Insight: It Will Happen Again
Mihm, Stephen
The Boston Globe, September 19, 2009, online edition
"Since the global financial system started unraveling in dramatic fashion two years ago, distinguished economists have suffered a crisis of their own. Ivy League professors who had trumpeted the dawn of a new era of stability have scrambled to explain how, exactly, the worst financial crisis since the Great Depression had ambushed their entire profession.Amid the hand-wringing and the self-flagellation, a few more cerebral commentators started to speak about the arrival of a “Minsky moment,” and a growing number of insiders began to warn of a coming “Minsky meltdown.”
Stephen Mihm is a History Professor at the University of Georgia.
Go to the
article at:
http://www.boston.com/bostonglobe/ideas/articles/2009/09/13/why_capitalism_fails?mode=PF
B2/04-09 - Posted November 6, 2009
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