Hyman Minsky quotes

Hyman Minsky was an American economist known for his pioneering work in financial instability theory. Born in 1919, Minsky's research focused on the inherent instability of financial markets and the role of speculation in driving economic cycles. His ideas gained renewed interest following the 2008 financial crisis, as policymakers sought to better understand the root causes of market crashes. Minsky's theories on "Minsky Moments" and the "Financial Instability Hypothesis" continue to influence modern economics and financial regulation. Learn more about Hyman Minsky and his contributions to economic thought.

Success breeds a disregard of the possibility of failure.

- Hyman Minsky

Unless we understand what it is that leads to economic and financial instability, we cannot prescribe – make policy – to modify or eliminate it. Identifying a phenomenon is not enough; we need a theory that makes instability a normal result in our economy and gives us handles to control it.

- Hyman Minsky

Stability leads to instability. The more stable things become and the longer things are stable, the more unstable they will be when the crisis hits.

- Hyman Minsky