Cause of the 2008 global financial crisis
Liberals, specifically Keynesian thinkers such as Minsky, hold a convincing interpretation for causes of the financial crisis. One of the causes can be explained by Minsky’s financial instability hypothesis (Docherty, 2005). Post-Keynesian economists hold that capitalism in its raw form is inherently unstable (Varoufakis, Halevi, Theocarakis, 2012, p.210). They argue that the classic capitalist view … Read more