If there is one theme that unites the various critiques of contemporary finance, it is the emphasis on its speculative character. Financial growth is said to be driven not by the logic of efficient markets, but rather by irrational sentiment, “animal spirits” that do not respect fundamental [...]
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My thesis ‘Time to Rebuild and Reaggregate Fluctuations’ stands on the shoulders of giants; giants like J. Barkley Rosser Jr. and Basil Moore, who worked to close the gap between complex systems science and Post Keynesian economics. The thesis builds on this effort by using Hyman P. Minsky’s [...]
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Samuel Knafo aims at a difficult target in his splendid new book, The Making of Modern Finance. His goal is to demolish the almost intractable assumption so frequently attached to liberal financial governance – the notion that the state is essentially a reactive actor, one that [...]
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