buys goods and goods buy money, but goods do not buy goods. (2) Money is always debt; it cannot be a commodity from the … first proposition because, if it were, that would mean that a particular good is buying goods. (3) Default on debt is … literature on money. The approach taken here is integrated with Hyman Minsky’s (1986) work (which relies heavily on the work of …

This paper provides a theoretical explanation of the accumulation process, which accounts for the developments in the …

that he was first developing his financial instability approach. In an earlier piece (Wray 1992), I closely examined Minsky …In this paper, I examine whether Hyman P. Minsky adopted an endogenous money approach in his early work--at the time …. However, I will devote most of the discussion here to unpublished early manuscripts in the Minsky archive (Minsky 1959, 1960 …

insights of Karl Marx on labor, as well as those of Hyman Minsky on finance. The best way to do this is within a longer …-like, nonmechanical view about long waves, where Minsky's financial Keynesianism is integrated with Marx's focus on capitalist relations … of production. Both are essential elements in understanding neoliberalism's ascent and collapse. Minsky provided crucial …

Different frameworks of analysis lead to different conceptions of financial instability and financial fragility. On one … side, the static approach conceptualizes financial instability as an unfortunate byproduct of capitalism that results from … liquidation buffers. On the other side, the evolutionary approach conceptualizes financial instability as something that the …

debts were in "foreign" currencies. By this I mean that even though Irish bank debt was in euros, the Government of Ireland … summarize the financial foibles of Iceland and Ireland. I will then-also quickly-summarize the case for debt relief or default …

and income distribution. This is an approach a la Hyman P. Minsky, who argued that in the modern era, government is both … (indirect job creation). Finally, it modifies the basic theoretical model to incorporate fiscal policy a la Minsky and John … find private sector work, irrespective of the phase of the business cycle. The paper specifically models Minsky's proposal …

framework developed by Hyman P. Minsky, the paper focuses on the risk of amplification of shock via a debt deflation instead of … reliance on capital gains and debt refinancing to meet debt commitments, the greater the financial fragility, and so the higher … the risk of debt deflation induced by a shock if no government intervention occurs. In the context of housing finance …