Can It Happen Again?

This book explores the question of whether the economic collapse of 1933 can happen again. The author, Hyman Minsky, presents some of his most important economic theories, including his celebrated "Financial Instability Hypothesis." He argues that any economic theory which separates the real economy from the financial system is bound to fail. Minsky also discusses the evolution of monetary institutions and Federal Reserve policy. This book is a must-read for economists, bankers, and policy makers who want to understand financial instability and its relationship to the capitalist economy.