Stabilizing an Unstable Economy

I just finished plowing, and I mean plowing, through Hyman P. Minsky's Stabilizing an Unstable Economy. Minsky was a leading U.S. economist during the second half of the 20th century. I was drawn to his work because of his focus on public policy and financial crises, for obvious current events.

Admittedly about half the book went right over my head - there were way too many math formulas. Formulas aside the book was intellectually challenging for a non-business school person.

It did help me to better understand what has been happening economically in the U.S. since the late 1960s, especially since the 1980s and the S&L crisis and how all that fits into public economic policy.

Clearly Minsky has his own belief about what is right. I think in many ways his policy approach while smart for the 1980s, lacks an answer for today. It does however point direction and has helped inform my opinion.

Whether you decide to attempt this feat is up to you...though I'm sure plenty of my friends will be able to easily digest, math formulas and all.