La inestabilidad financiera en Minskyuna interpretación endógena de las crisis

Résumé

The aim of this paper is to show Minsky�s theoretical contribution to the debate on the origin of capitalist�s economic crisis. In his life�s work, the author makes a case for the reoccurrence pattern of economic crises, placing its origin within the financial sphere. In order to understand Minsky�s proposals we must first of all look into his primary referent, which can be found in Keynes� work. Secondly the article briefly carries out a brief analysis aimed at interpreting the rules under which the financial system operates. Thirdly it lays out how financial markets gradually evolve from a state of healthily growing economy to a recession. The last part of the analysis lays out the mechanisms that in a reoccurrence way trigger all recession periods. The conclusions that can be drawn from this standpoint are of special relevance to understand the events that set in motion the current economic situation, they are also vital to correctly judge the results from economic policies that favour financial deregulation.