Minsky: Economic Cycle, Financial Instability, and Economic Policy

Autores/as

  • Yamil Omar Díaz Bustos Facultad de Estudios Superiores Aragón, UNAM
  • José Luis Martínez Marca Facultad de Estudios Superiores Aragón, UNAM

DOI:

https://doi.org/10.22201/fesa.rdp.2022.5.02

Palabras clave:

Ciclo económico, inestabilidad financiera, política económica

Resumen

Until the end of 2019, a little before the effects of COVID-19 would be felt globally, the world’s most developed capitalist economies did not show signs of recovery, on the contrary, it seemed that their destiny was a new recession. As is well known, after the 2007 crisis that began in the United States, the institutional and economic policy proposals of Hyman Minsky have been reexamined in a different context. In this paper, we make a description and an interpretation of the main Minskian proposals, which have been reexamined in order to explain the economic cycle, as well as the economic crises and economic policies. Minsky considered that financial instability is inherent to the capitalist system itself, because for him the very stability of the system is in itself destabilizing. It is important to understand the proposals of the Minskian approach, as it is an interesting and valuable contribution to the prevailing conventional theory that failed to foresee the recessionary problems or the economic crisis of the first decade of this century.

Biografía del autor/a

Yamil Omar Díaz Bustos, Facultad de Estudios Superiores Aragón, UNAM


Profesor de Carrera Titular “A”

José Luis Martínez Marca, Facultad de Estudios Superiores Aragón, UNAM

Profesor de Carrera Titular “C”

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Publicado

28-04-2022

Cómo citar

Díaz Bustos, Y. O., & Martínez Marca, J. L. . (2022). Minsky: Economic Cycle, Financial Instability, and Economic Policy. RDP Revista Digital De Posgrado, (5), 08–27. https://doi.org/10.22201/fesa.rdp.2022.5.02

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