Testimonials

[T]he key determinant of [economic] system behavior remains the level of profits. [My] financial instability hypothesis incorporates the Kalecki-Levy view of profits, in which the structure of aggregate demand determines profits.

—Hyman Minsky, seminal 20th century economist whose financial instability hypothesis has gained popularity in the wake of the financial crises of recent years. Often overlooked by his admirers is that the Profits Perspective was at the core of his analysis.