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Minsky’s Vision and its Relationship with The General Theory

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Advances in Monetary Policy and Macroeconomics

Abstract

Minsky is generally considered to be one of the main exponents of the Post Keynesian School (King 2002). He himself presented his theory as an authentic interpretation/a legitimate extension of The General Theory.1 Minsky’s theory flows into his financial instability hypothesis, according to which a financially advanced economy is structurally unstable,2 tending to move through a sequence of an expansion, a speculative boom and a financial crisis followed by a debt deflation and a deep depression. Minsky’s up-to-dateness consists precisely in his placing finance and financial instability at the centre of his analysis.

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Authors

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Philip Arestis Gennaro Zezza

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© 2007 Elisabetta De Antoni

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De Antoni, E. (2007). Minsky’s Vision and its Relationship with The General Theory. In: Arestis, P., Zezza, G. (eds) Advances in Monetary Policy and Macroeconomics. Palgrave Macmillan, London. https://doi.org/10.1057/9780230800762_10

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