No . 277 Hyman Minsky ' s Theory of Capitalist Development
نویسنده
چکیده
Minsky also believed that economics provided no easy answers. As a careful student of both theory and history, he knew that neither provided strong evidence for relying on markets alone to produce prosperity and economic stability. Making Minsky's search for practical answers even more difficult was the fact that during his career the U.S. economics profession was dominated by neoclassical theory--an approach he rejected as an inadequate starting point for economic analysis. In fact, reflecting on the fact that neoclassicalism was thoroughly entrenched in the nation's advisory and policy making circles, he once wrote, "Nobody 'up there' understands American capitalism" (Minsky 1982, 202).1
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