A Primer on Minsky (Keen)

Instability in financial markets: souces and remedies by Steve Keen. “CAPM’s empirical demise as a theory of finance has been accompanied by the rise of behavioural-finance, which attributes much of the instability of finance markets to the limited and heuristically oriented cognitive capacities of actual traders…While this is clearly an importante aspect of instability, l will take a different tack and situate my explanation in the integrated macro-financial vision of Hyman Minsky’s Financial Instability Hypothesis (FIH).”