Financial instability: economic and financial perspectives

Michael Dempsey

Chapter 5 in Research Handbook of Investing in the Triple Bottom Line, 2018, pp 93-113 from Edward Elgar Publishing

Abstract: Economists from Keynes (1936) to Minsky (1986) have recognized the fragility of markets and the impact of such fragility on the broader economy. In some contrast, academic finance has chosen to build a theoretical framework on an understanding of markets as efficient and in equilibrium. Such understanding has led to a theoretical framework that greatly overestimates the market’s capacity for efficiency and self-correction.

Keywords: Business and Management; Economics and Finance; Environment (search for similar items in EconPapers)
Date: 2018
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