A presentation which I made in a last year of my bachelor degree. It was English homework.

1. HYMAN P. MINSKY
University of KIRKLARELI
Suray CHARIYEVA
2100202651

2. Who is he?
• Hyman Minsky
(sept.23,1919-
oct.24,1996) – was an
american economist,
professor of
economics at
Washington
University.

3. Hyman Minsky Phillip is perhaps the most
original and interesting representative post-
Keynesianism - the most radical trend in modern
macroeconomics , broke with the majority of the
ideas and basic assumptions of traditional
economic theory.

4. • For all the radical and heretical against economic
establishment, Minsky was never mind to become a part of this
establishment. He always wanted his ideas became recognized
and he himself , in general, not even attributed to
representatives of post-Keynesianism .
• However, it should be noted that modern post-Keynesian
macroeconomic theory today is unimaginable without the ideas
of this scientist. Minsky theory , largely , is the backbone of
post-Keynesian economic thought.

5. • One of the fundamental ideas for Minsky, the
proof of which he devoted his entire life, is that
the capitalist economy - internal instability
mechanism and by itself it does not lead to any
equilibrium. Cyclical fluctuations in
unemployment, which is replaced by an
overheating economy - this is what best describes
the economic dynamics of capitalism.

6. • The main concept of Minsky , with which
he tried to prove the failure of the market
as a mechanism for the coordination of
economic activity is " financial instability
hypothesis " . According to scientists, the
reason for instability of modern capitalism
to be found in its financial system.

8. MINSKY MOMENT
• When a market fails or falls into crisis after an
extended period of market speculation or
unsustainable growth. A Minsky moment is based
on the idea that periods of speculation, if they last
long enough, will eventually lead to crises; the
longer speculation occurs the worse the crisis
will be. This crisis is named after Hyman
Minsky, for arguing the inherent instability of
markets, especially bull markets. He felt that long
bull markets only ended in large collapses.

9. References :
• http://www.investopedia.com/terms/m/minskymoment.as
p
• http://gallery.economicus.ru/cgi-bin/
frame_rightn.pl?type=in&links=./in/minsky/biogr/mi
nsky_b1.txt&name=minsky&img=brief.gif
• www.wikipedia.org
• http://www.youtube.com/watch?v=gRE-IDYfi8Y