 A Comment on DickensGerald Epstein Review of Political Economy, 1999, vol. 11, issue 4, 399-405 Abstract: There are two separate, but related aspects to Edwin Dickens' paper. One concerns a specific historical event: what caused the financial crisis of 1966? The second draws out the implications of this case for the general theory of financial instability developed most notably by Hyman Minsky and applied by Martin Wolfson to the 1966 financial crisis. Dickens' study is fascinating, both for the detailed, - indeed, almost blow by blow - description of the unfolding action, and also for the unique theoretical interpretation he brings to the events. This paper has made me think in new ways about issues such as the etiology of financial crises, and the interactions between private interests and the Federal Reserve. One of the many things I very much liked about this paper was Dickens' method of using very detailed historical analysis of a specific event, discussed with detailed knowledge of the financial institutions and markets of the time, which he then placed in a broader context of historical events all in the process of shedding light on an important theoretical issue in macroeconomics. While Dickens' theoretical and historical analyses are very impressive, the empirical evidence for Dickens' assertions could be stronger. Date: 1999 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:revpoe:v:11:y:1999:i:4:p:399-405 Ordering information: This journal article can be ordered from Access Statistics for this article Review of Political Economy is currently edited by Steve Pressman and Louis-Philippe Rochon More articles in Review of Political Economy from Taylor & Francis Journals |
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