Thursday, January 3, 2019

Dirk Ehnts — Minsky in 1993 on the Non-Neutrality of Money

I have read an article from Hyman Minsky which is only 6 pages long but contains some major arguments of his thought. There are also some very nice quotes to take out of the text. The article was published in the FRBNY Quarterly Review issue of spring 1992 on pages 77-82. Minsky attacks equilibrium economics:
econoblog 101
Minsky in 1993 on the Non-Neutrality of Money
Dirk Ehnts | Lecturer at Bard College Berlin

1 comment:

Andrew Anderson said...

– every asset is a liability in another balance sheet ...

Not in the case where the asset is common stock. In that case, the asset is a share in Equity, which is what remains from Assets MINUS Liabilities.

It's funny how this is so often missed or denied - until one recognizes it contradicts the "money must be debt" mantra since money may also be shares in Equity.