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 |
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author | Perry Mehrling |
author_facet | Perry Mehrling |
author_sort | Perry Mehrling |
collection | DOAJ |
description | 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. |
first_indexed | 2024-03-08T15:38:48Z |
format | Article |
id | doaj.art-7c4fc7be8161437e8a0217951919e449 |
institution | Directory Open Access Journal |
issn | 2113-5207 2269-8450 |
language | English |
last_indexed | 2024-03-08T15:38:48Z |
publishDate | 2023-12-01 |
publisher | Association Œconomia |
record_format | Article |
series | Œconomia |
spelling | doaj.art-7c4fc7be8161437e8a0217951919e4492024-01-09T15:31:12ZengAssociation ŒconomiaŒconomia2113-52072269-84502023-12-0113410291053The Minsky-Kindleberger Connection and the Making of Manias, Panics, and CrashesPerry MehrlingThis 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.http://journals.openedition.org/oeconomia/16488financial crisisfinancial instabilityAmerican institutionalismlender of last resort |
spellingShingle | Perry Mehrling The Minsky-Kindleberger Connection and the Making of Manias, Panics, and Crashes Œconomia financial crisis financial instability American institutionalism lender of last resort |
title | The Minsky-Kindleberger Connection and the Making of Manias, Panics, and Crashes |
title_full | The Minsky-Kindleberger Connection and the Making of Manias, Panics, and Crashes |
title_fullStr | The Minsky-Kindleberger Connection and the Making of Manias, Panics, and Crashes |
title_full_unstemmed | The Minsky-Kindleberger Connection and the Making of Manias, Panics, and Crashes |
title_short | The Minsky-Kindleberger Connection and the Making of Manias, Panics, and Crashes |
title_sort | minsky kindleberger connection and the making of manias panics and crashes |
topic | financial crisis financial instability American institutionalism lender of last resort |
url | http://journals.openedition.org/oeconomia/16488 |
work_keys_str_mv | AT perrymehrling theminskykindlebergerconnectionandthemakingofmaniaspanicsandcrashes AT perrymehrling minskykindlebergerconnectionandthemakingofmaniaspanicsandcrashes |