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Title:Minsky's cushions of safety: Systemic risk and the crisis in the US subprime mortgage market PDF Logo
Authors:Kregel, Jan
Issue Date:2008
Series/Report no.:Public policy brief // Jerome Levy Economics Institute of Bard College 93
Abstract:In this brief, Senior Scholar Jan Kregel reviews Hyman P. Minsky's concept of financial fragility - in short, that the structure of a capitalist economy becomes more fragile over a period of prosperity - and concludes that the current crisis is in fact the result of insufficient margins of safety based on how creditworthiness is assessed in the new originate and distribute financial system.
ISBN:978-1-931493-73-4
Document Type:Research Report
Appears in Collections:Public Policy Briefs, Levy Economics Institute of Bard College

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