Publications

Public Policy Brief No. 93 | January 2008

Minsky’s Cushions of Safety

Systemic Risk and the Crisis in the U.S. Subprime Mortgage Market

In this brief, Senior Scholar Jan Kregel reviews Hyman P. Minsky’s concept of financial fragility—in short, that the structure of a capitalist economy becomes more fragile over a period of prosperity—and concludes that the current crisis is in fact the result of insufficient margins of safety based on how creditworthiness is assessed in the new “originate and distribute” financial system.


Publication Highlight

Policy Note 2017/3
Why the Compulsive Shift to Single Payer?
Because Healthcare Is Not Insurable
Author(s): L. Randall Wray
July 2017

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