tsuomela + instability   8

Inequality and Economic Collapses | Mother Jones
" they've constructed a simple model for financial crises that essentially proposes the following narrative: (a) growing inequality produces less money for the middle class and more money for the rich, (b) the rich loan much of this money back to the middle class so they can continue to improve their living standards even with stagnant incomes, (c) the financial sector balloons to mediate all this, and (d) the system eventually collapses since, after all, this kind of thing can't last forever."
economics  inequality  instability  crisis  recession  leverage  debt  class  wealth 
december 2010 by tsuomela
Economic Security Index: Putting a Face on American Economic Security
"The survey was fielded in the spring and the fall of 2009 as part of the Panel Survey of the American National Election Studies. It measured a wide range of events and perceptions that could leave families feeling insecure, focusing on four broad domains of life: employment, medical care, wealth, and familial arrangements. "
economics  survey  2009  american  risk  insecurity  perception  instability  work  labor  money 
december 2010 by tsuomela
The Instability of Moderation - NYTimes.com
by Paul Krugman.
"But watching the failure of policy over the past three years, I find myself believing, more and more, that this failure has deep roots – that we were in some sense doomed to go through this. Specifically, I now suspect that the kind of moderate economic policy regime Brad and I both support – a regime that by and large lets markets work, but in which the government is ready both to rein in excesses and fight slumps – is inherently unstable. It’s something that can last for a generation or so, but not much longer."
crisis  recession  fiscal-policy  policy  economics  instability  stability  moderation  model 
november 2010 by tsuomela
Income Inequality and Financial Crises - NYTimes.com
Professor Moss is among a small group of economists, sociologists and legal scholars who are now trying to discover if income inequality contributes to financial crises. They have a new data point, of course, in the recent banking crisis, but there is only one parallel in the United States — the 1929 market crash.
economics  finance  instability  crashes  depression  recession  history 
august 2010 by tsuomela
Open Left:: Understanding the Financial Crisis: Hyman Minsky's "Financial Instability Hypothesis"
If you want to understand the financial crisis, there are a number of different levels you can approach it on. But if you want to understand why capitalist financial systems repeatedly tend to crisis, you basically have two choices: Karl Marx and Hyman Minsky.
economics  instability  capitalism  crisis  theory  finance  chaos  complexity  recession 
october 2009 by tsuomela

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