Publications

Induced Investment and Business Cycles

Type
Link
Cost
Paid
Published
2005

Induced Investment and Business Cycles is the doctoral thesis done by one of the most innovative thinkers on financial markets – Hyman P. Minsky. The paper draws out some antecedents of Minsky’s ideas in the work of Henry Simons, highlights the Marshallian monetary analysis that he adopted, and includes critical remarks on Cambridge economics. The thesis also tackles the relationship between induced investment, constraints of financing investment, market structure, and determinants of aggregate demand and business cycle performance. Minsky investigates the relevance of the accelerator-multiplier models of investment to individual firm behavior in undertaking investment dependent on cost structure.

Induced Investment and Business Cycles Contents