Does Capitalism Itself Create Economic Instability Or Is Central Banking The Culprit? – Analysis

By Frank Shostak*

Instability in financial markets has brought back the ideas of post-Keynesian school of economics (PK) economist Hyman Minsky. Minsky held that the capitalist economy inherently is unstable, culminating in severe economic crisis, accumulation of debt being the key mechanism pushing the economy toward a...