Quote of the Day: April 16, 2012
"Keynes's General Theory identified two fundamental flaws of the capitalist system: chronic unemployment and excessive inequality. Minsky added a third: instability is a normal result of modern financial capitalism (p. 112, 315). Further, persistent stability cannot be achieved—even with apt policy—because it changes behavior in ways that make 'IT' likely…"
--Introduction to Hyman Minsky, Stabilizing an Unstable Economy
