Coffee with Joe 4-24-10, Report from the Minsky Conference

Joe went to the Hyman Minsky Conference on the State of the US and World Economies (http://www.levyinstitute.org/conferences/minsky2010/) at the Levy Economics Institute in New York City last week. It was attended by numerous presidents of the regional Fed Banks, Paul Krugman, Paul Volcker, and UMD Professor Michael Greenberger, former Director
of the Division of Trading and Markets at the Commodity Futures Trading
Commission (CFTC) where he served under CFTC Chairperson Brooksley
Born (http://www.michaelgreenberger.com/index.html).

In this video, Joe briefly describes Minsky's Financial Instability Hypothesis (http://papers.ssrn.com/sol3/papers.cfm?abstract_id=161024) and his take on the conference.

Category:

News & Politics

Tags:

• Coffee with Joe 4-24-10
• Hyman Minsky
• Monetary Reform
• Financial Instability
• Fed

[joebhed]

@mauro23031961

please explain the question?

is it like, does your wife enjoy the beating, or something like that?

And besides, aren't there American fascist lawyers?

So, yeah, we're American patriots and neither of us is a lawyer.

[mauro23031961]

Are you american or fascist lawyers?

[joebhed]

@MM Exactly. Just as Minsky hypothecized. We still need a system that is less prone to the pro-cyclicality of this private, un-deregulated fractional-reserve system of banking and money-creation. It's been a hundred year experiment. Un-payable debts. Breaking of contracts. Financial instability , as you say. We need to build the system of banking and money-creation around the public purpose of economic stability. Pro-cyclicality was. Counter-cyclical policies define stability.