Sunday, December 4, 2016

Vitor Mello — Using Minsky to Better Understand Economic Development – Part 1 & 2

This year the global system has seen two major shocks: Brexit and Trump. What these events have in common is their populist rhetoric that promised to bring back jobs, while also making xenophobic statements. These elections have tapped into growing anxiety over job security, which has not been addressed by most governments and has given room for demagogues to tap into the anger of the people. They reflect a problem that transcends the boundaries of any single nation: the global economy has been in a slump for almost a decade. Governments need to create jobs, and public fiscal stimulus is the way to do so. To allow it, we must rethink that system.
The Minsky's

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