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Hyman Minsky

AKA Hyman Philip Minsky

Born: 23-Sep-1919
Birthplace: Chicago, IL
Died: 25-Oct-1996
Location of death: Rhinebeck, NY
Cause of death: Cancer - Pancreatic

Gender: Male
Religion: Jewish
Race or Ethnicity: White
Sexual orientation: Straight
Occupation: Economist

Nationality: United States
Executive summary: Inherently unstable markets

Military service: US Army (1943-45)

Economist Hyman Minsky wrote extensively about market cycles, explained how periods of economic stability naturally lead to speculative lending, and argued that financial markets tend to excesses. He theorized about bubbles in the economy, and wrote that markets are inherently unstable and susceptible to excess speculation as markets expand. This, he argued, leads inevitably to a market meltdown as the bubble of irrational exuberance bursts, and illusionary values brought on by speculation fade -- a market collapse now referred to as the "Minsky moment." He was often described as a radical Keynesian, and wrote a well-received biography of economist John Maynard Keynes. Prior to his study of economics at Harvard, Minsky was active in the American Socialist Party.

Father: Samuel Minsky
Mother: Dora Zakon Minsky
Wife: Esther De Pardo (m. 1955, one son, one daughter)
Son: Alan Minsky
Daughter: Diana Minsky

    High School: George Washington High School, New York City (1937)
    University: BA Mathematics, University of Chicago (1941)
    University: MA Public Administration, Harvard University (1952)
    University: PhD Economics, Harvard University (1954)
    Teacher: Brown University (1949-58)
    Teacher: University of California at Berkeley (1957-65)
    Professor: Economics, Washington University in St. Louis (1965-90)
    Scholar: Jerome Levy Economics Institute, Bard College (1990-96)

    Jewish Ancestry
    Russian Ancestry (paternal)
    Risk Factors: Asthma

Author of books:
California Banking In A Growing Economy, 1946-1975 (1965)
John Maynard Keynes (1975)
Inflation, Recession and Economic Policy (1982)
Can "It" Happen Again?: Essays on Instability and Finance (1984)
Stabilizing an Unstable Economy (1986)
Induced investment and Business Cycles (2003, posthumous)

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