Mechanisms of financial crises in growth and collapse;Hammurabi,Schumpeter,Perez, and Minsky

• Main Author: Erik S.Reinert
• Format: Article
• Published: Penerbit Universiti Kebangsaan Malaysia 2012
• Online Access: http://journalarticle.ukm.my/5833/; http://www.ukm.my/penerbit/jem.htm
• Institution: Universiti Kebangsaan Malaysia

This article provides a historical and theoretical overview of the mechanism leading up to financial crises and financial bubbles. It suggests that the potentially explosive growth of the financial sector at the expense of the real economy fed by compound interest has-since before ancient mesopotami...