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- The Dialectics of Liquidity Crisis
The Dialectics of Liquidity Crisis
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This book analyses the logic of applying the American Post-Keynesian economist Hyman Minsky¿s Financial Instability Hypothesis (FIH) to the financial crisis of 2007-08. In conducting a historicizing critique of Minsky¿s work this book seeks to illustrate how the abstraction of financial "risk" which conditions trade in financial instruments such as derivatives and asset backed securities can be conceptualised as "liquidity". The book illustrates the continuing relevance of Minsky¿s theory of liquidity crisis as "immanent" (infused in and about to happen to) the products and trading practices of modern finance and the crisis of 2007-08 but not as explanatory in and of itself.
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