Workshop 04 Post Keynesian Dynamics using Minsky

Building a model of Minsky's Financial Instability Hypothesis on the foundations of Goodwin's model;
The emergent properties of this model:
(1) A cyclically rising debt level (predicted by Minsky)
(2) Rising inequality (probably expected by Minsky, but not predicted) and
(3) Diminishing cycles in employment, economic growth, and inflation, before a crisis (totally unexpected);
The pathetic reaction of Neoclassical economists to the Bank of England's paper rejecting Loanable Funds and supporting the Post Keynesian model of Endogenous Money (which I call "Bank Originated Money and Debt", or BOMD);
Using Godley Tables in Minsky to build a basic monetary model of capitalism

Видео Workshop 04 Post Keynesian Dynamics using Minsky канала ProfSteveKeen