So it followed naturally that my second administration should prioritize getting rid of deflation and turning around the Japanese economy. Let's say that I have set the priorities right this time to reflect the concerns of the people, … [...]
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Randy Wray — Hyman Minsky and the Employer of Last Resort. Collection of Minksy's articles on the JG, and a link …. Mosler Discussing Deflation on WKRO Radio Recordin… Austerity is not the only answer to a debt problem … [...] The Eurozone is facing a growing risk of deflation – similar to Japan . Once the inflation rate in Japan fell below 1%, the external shock of the Asian currency crisis (late 90s) sent Japan into a deflationary spiral – something the … [...] The deflationary exit strategy from the crisis advocated by the European elites can only lead to a long, painful recession. In the wake … Here, Minsky identifies two anti-unemployment strategies that are richly instructive [...] Merijn Knibbe — Graph of the day – a deflation shock in Japan. Real-World Economics Review Blog Graph of the day – a …. Steve Keen — Kickstart Minsky Now! Anatole Kaletsky — A breakthrough speech on [...] We should not read too much in one data-point. But we also should take it serious: there might well be some kind of deflation shock in Japan . Which adds some background to the aggressive reflation policies proposed by … [...] Significantly, he fails to consider Irving Fisher's The Debt Deflation Theory of Great Depressions and Hyman Minsky's The Financial Instability Hypothesis, which explain the theory underlying debt deflation . Conclusion … [...] |
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The Economics Forum 21: The Minsky Moment: How Paul Krugman …
A ” Minsky Moment” in which both the lender (“patient capitalist”) and the borrower (“impatient capitalist”) finally realise that theirs is sheer “speculation” and that the “profits” they anticipated from production are not going to materialise …. But Krugman simply “has” to confront this problem – and he does, as we saw, when he acknowledges that “debt-deleveraging” (or Fisherian debt- deflationary ) “shocks” occur when our dear “patient and impatient” capitalists “suddenly … [...]