Hyman Minsky Quote

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 result in our economy and gives us handles to control it.

Stabilizing an Unstable Economy (ed. McGraw Hill Professional, 2008) - ISBN: 9780071592994

Unless we understand what it is that leads to economic and financial instability, we cannot prescribe — make policy — to modify or eliminate it....

Unless we understand what it is that leads to economic and financial instability, we cannot prescribe — make policy — to modify or eliminate it....

Unless we understand what it is that leads to economic and financial instability, we cannot prescribe — make policy — to modify or eliminate it....

Unless we understand what it is that leads to economic and financial instability, we cannot prescribe — make policy — to modify or eliminate it....