Browsing » December 2011

Minsky mania: a raincheck

by Paul Ormerod The American economist Hyman Minsky is currently very fashionable, especially amongst those who are sympathetic to the idea of more government intervention in the economy. Minsky argued that financial crises were an inevitable feature of capitalism, unless governments stepped in through regulation and central bank action. He hypothesised that in prosperous times, […]

The Financial Crisis and “Fractal Explanations”

by Greg Fisher The financial crisis is now over 3 years old and the explanations for the crisis have been well rehearsed.  This blog takes issue with a number of the explanations for the crisis, and develops a new term, fractal explanations.  Google indicates that I am not the first to use this term but […]