"The first theorem of the financial instability hypothesis is that the economy has financing regimes under which it is stable, and financing regimes in which it is unstable.
The second theorem of the financial instability hypothesis is that over periods of prolonged prosperity, the economy transits from financial relations that make for a stable system to financial relations that make for an unstable system.
In particular, over a protracted period of good times, capitalist economies tend to move to a financial structure in which there is a large weight to units engaged in speculative and Ponzi finance. Furthermore, if an economy is in an inflationary state, and the authorities attempt to exorcise inflation by monetary constraint, then speculative units will become Ponzi units and the net worth of previously Ponzi units will quickly evaporate. Consequently, units with cash flow shortfalls will be forced to try to make positions by selling out positions. This is likely to lead to a collapse of asset values."
x=Control, y=Responsibility...Control must be correlated with responsibility.
And you don't have to wipe your feet anymore...enviro-freaks putting a dirt floor into a home in California: "Rowell and Farnsworth, 26, were working with a dozen friends to install a dirt floor — an "earthen floor," as it is known — in their 50-year-old home in this Oakland suburb."...one word for this idea; MORONIC...
How to publish (and not perish)...includes a link to "Top ten ways to get published in a scholarly journal"...
Most firms find financing in domestic markets...is the conclusion of the linked study...
CEO pay is window dressing?....
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