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Strategies & Market Trends : ahhaha's ahs
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To: ahhaha who wrote (2256)5/16/2001 1:27:10 PM
From: frankw1900Read Replies (1) of 24758
 
You are right, Minsky did believe in Big government (as in 'strong' government - too vague, I know) and regulation. But I don't think he believed in sock it to em taxation or unlimited debt. He was of the opinion that government share of GDP more than about 25% was crippling but did believe governments should vigorously manage that ~25% to fit policy ends. He certainly was not a believer in social programs. ( I can dig up references, if you want). I find Minsky interesting because of his contradictions.

I don't think he was anti-Keynesian at all.

I found Minksky useful and admirable because he kept his descriptive and prescriptive economizing mostly separate. And at the time I came across his book Stabilizing an Unstable Economy in 1987 I found his description of financial processes profitably useful - there wasn't a whole lot accessible at the time which connected finance to the rest of the economy.

Static equilibrium is oxymoron

I agree. I remember Minsky writing somewhere of momentary equilibrium - a brief time when things seem stable. A bit more reasonable.

I find economists fascinating. These days they deny they're philosophers but just like Plato and the rest, they prescribe, prescribe, prescribe - believers in the pretense of their own knowledge, as you say. Conflating description with prescription.

FrankW
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