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Financial Internet Quarterly
Article . 2024 . Peer-reviewed
License: CC BY NC ND
Data sources: Crossref
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Financial Internet Quarterly
Article
License: CC BY NC ND
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SSRN Electronic Journal
Article . 2017 . Peer-reviewed
Data sources: Crossref
EconStor
Article . 2017
License: CC BY NC ND
Data sources: EconStor
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Research . 2017
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Understanding Financialization: Standing on the Shoulders of Minsky

Authors: Whalen, Charles Joseph;

Understanding Financialization: Standing on the Shoulders of Minsky

Abstract

Since Hyman Minsky’s death in 1996, much has been written about financialization. This article — by means of the synthesis, interpretation, and assessment of an extensive literature — explores the issues that Minsky examined in the last decade of his life and considers their relationship to the financialization literature. At the heart of those issues is what Minsky called money manager capitalism, which he viewed through the lens of a theory of capitalist development inherited from Joseph Schumpeter. Advancing our understanding of the history of financial economics, the article shows how Minsky contributed to — indeed, anticipated much of — the study of financialization. The article also identifies two sources of Minsky’s insightfulness: his treatment of economics as a grand adventure, and his willingness to step beyond the world of theory and interact with the world of practice. Today, scholars with a Minsky perspective face formidable challenges, but, the author concludes, within Minsky’s writings is also a glimmer of hope: Economic systems are not natural systems; we can reshape them to achieve a more humane world. 

Keywords

money manager capitalism, B52, Hyman Minsky, B31, ddc:330, financialization, B26, G00

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
4
Average
Average
Average
gold