In a world of businessmen and financial intermediaries who aggressively seek profit, innovators will always outpace regulators; the authorities cannot prevent changes in the structure of portfolios from occurring. What they can do is keep the asset-equity ratio of banks… — Hyman Minsky Copy Share Image
Unless we understand what it is that leads to economic and financial instability, we cannot prescribe -- make policy -- to modify or eliminate it. Identifying a phenomenon is not enough; we need a theory that makes instability a normal… — Hyman Minsky Copy Share Image
In a world of businessmen and financial intermediaries who aggressively seek profit, innovators will always outpace regulators; the authorities cannot prevent changes in the… — Hyman Minsky Copy Share Image
If the authorities constrain banks and are aware of the activities of fringe banks and other financial institutions, they are in a better position… — Hyman Minsky Copy Share Image
Unless we understand what it is that leads to economic and financial instability, we cannot prescribe -- make policy -- to modify or eliminate… — Hyman Minsky Copy Share Image
Stability leads to instability. The more stable things become and the longer things are stable, the more unstable they will be when the crisis… — Hyman Minsky Copy Share Image
