Steve Keen: Instability in Financial Markets 3/5

The video explores Hyman Minsky's theories on financial instability, emphasizing the role of debt in economic growth and asset bubbles. Minsky's critique of neoclassical models highlights the destabilizing nature of equilibrium. The discussion covers endogenous money, Ponzi schemes, and the historical context of debt from the Great Depression to the present. Proposals for financial stability include Jubilee shares and property income limited leverage to curb speculative debt.

What perspective does the speaker provide on Minsky's theories?

How did Minsky's views differ from those of neoclassical economists?

What is the significance of the term 'endogenous money' in Minsky's theory?

Explain the relationship between private debt and economic growth according to Minsky.

What role does the banking sector play in Minsky's economic model?

Discuss the concept of 'Ponzi finance' as described by Minsky.

What are the proposed remedies to address the issues of accelerating debt?

How does Minsky's view of stability differ from traditional economic theories?

What implications does Minsky's theory have for understanding financial crises?

In what ways does the speaker suggest we can make debt unattractive?