Caverzasi, Eugenio - Levy Economics Institute - 2013
Hyman Minsky. The core of this critique is based on the Kaleckian analytical framework and, in very broad terms, states that …. Hence, even if investments are debt ï¬nanced, as in Minsky's analysis, the overall level of indebtedness of the ï¬rm sector … to the critics, Minsky incurs a fallacy of composition when he does not take this dynamic into account when applying his …