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   GhostOnTheHalfShell (ghostonthehalfshell@masto.ai)'s status on Thursday, 16-May-2024 00:30:42 JST GhostOnTheHalfShell

   @economics-that-works

   #SteveKeen #economics

   Toothsome 1995 paper.

   Finance and Economic Breakdown: Modeling Minsky's "Financial Instability Hypothesis"

   Minus the math, which can be skipped over, for his discussion, the paper lays out the basics of modern economics wrt to economic cycles and labor v capitalist v creditor (banks) income.

   It’s the basic model to reason about our economy and its state.

   https://keenomics.s3.amazonaws.com/debtdeflation_media/papers/JPKE1995PageImage9509152794.pdf

   also on JSTOR

   https://www.jstor.org/stable/4538470

   🧵

   • Embed this notice
     HistoPol (#HP) 🏴 🇺🇸 🏴 (histopol@mastodon.social)'s status on Thursday, 16-May-2024 00:31:10 JST HistoPol (#HP) 🏴 🇺🇸 🏴

     in reply to

     @GhostOnTheHalfShell

     What do you mean by co-ops?
     @economics-that-works

   • Embed this notice
     GhostOnTheHalfShell (ghostonthehalfshell@masto.ai)'s status on Thursday, 16-May-2024 00:31:11 JST GhostOnTheHalfShell

     in reply to

     @economics-that-works

     Of the thoughts I have of

     1) what happens to system dynamics if a “big enough” portion worker & capitalist sector merges under co-ops?
     2) interest pricing to control debt demand is economic cancer
     3) financial institutions were/are lending factories by policy construction. in today’s economy they are agents of the ponzi scheme, see GFC.
     4) from the paper not weak taxation destabilizes system dynamics of the economy (economic cancer)