About the book
Hyman P. Minsky, who lived from 1919 to 1996, began warning about financial instability decades before the global financial crisis, yet his work still sits largely outside mainstream economics. Randall Wray sets out to make Minsky's ideas accessible to general readers. The central idea is that stability is destabilizing: the more an economy seems to grow steadily and securely, the more it builds the conditions for a crash, an insight Wray says mainstream economists ignored. He also covers Minsky's thinking on banking and money, on unemployment and poverty, and on how capitalism evolves, plus his proposals for financial reform. Wray argues that understanding Minsky could help spot the next crisis and act in time to prevent it.
Zeall founder Lucas Morales, a Modern Money Theory enthusiast, was reading it while hoping to come closer to the expert grasp of others in a group he belongs to that discusses money, financial systems and economic policy, so he could contribute more.
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Lucas Morales (Founder & CEO/Zeall.us)
I am currently reading Why Minsky Matters: An Introduction to the Work of a Maverick Economist by Randall Wray. I am an enthusiast of Modern Money Theory and participate in a group interested in financial systems, the nature of money, and economic policy. I am hoping to get closer to the expert level of understanding that others in that group have so that I can contribute more to the discussion. I believe that if we want to make real change in the world, we need to be looking at the most fundamental aspects of our social lives, and there is nothing more fundamental in society than the point system we use to track IOUs between each other.
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