The Minsky-Kindleberger Connection and the Making of Manias, Panics, and Crashes
This article traces the evolution of what has come to be called the Kindleberger-Minsky model, starting with Kindleberger’s 1978 publication of Manias, Panics, and Crashes and continuing thereafter. The key to understand the affinity of the two men, it is argued, is a shared intellectual ancestry in...
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| Format: | Article |
| Language: | English |
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Association Œconomia
2023-12-01
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| Series: | Œconomia |
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| Online Access: | http://journals.openedition.org/oeconomia/16488 |
| Summary: | This article traces the evolution of what has come to be called the Kindleberger-Minsky model, starting with Kindleberger’s 1978 publication of Manias, Panics, and Crashes and continuing thereafter. The key to understand the affinity of the two men, it is argued, is a shared intellectual ancestry in pre-war American institutionalism, which led to shared outsider status in the post-World War II economics academy. Both also identified with the longer tradition of monetary thought that emphasizes the inherent instability of credit, and hence the necessity for central bank management. |
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| ISSN: | 2113-5207 2269-8450 |