On Democratizing Financial Turmoil A Minskian Analysis of the…金融风暴民主化的明斯克分析.pdfVIP

Working Paper No. 548 On Democratizing Financial Turmoil: A Minskian Analysis of the Subprime Crisis* by Luisa Fernandez Alvarez Marsal Taxand, LLC Fadhel Kaboub Denison University Zdravka Todorova Wright State University November 2008 *Paper presented at the Annual Eastern Economics Association Conference in Boston, MA (March 7-9, 2008). Any views expressed in this paper are those of the authors only and not those of Alvarez Marsal Taxand, LLC. The authors wish to thank Justin Hess (Denison University, Class of 2010) for his excellent editorial assistance. The usual disclaimer applies. Corresponding author: Fadhel Kaboub, Denison University, Department of Economics, 227 Higley Hall, 100 West College Street, Granville, OH 43023; tel.: (740) 587-6315; e-mail: kaboubf@ The Levy Economics Institute Working Paper Collection presents research in progress by Levy Institute scholars and conference participants. The purpose of the series is to disseminate ideas to and elicit comments from academics and professionals. The Levy Economics Institute of Bard College, founded in 1986, is a nonprofit, nonpartisan, independently funded research organization devoted to public service. Through scholarship and economic research it generates viable, effective public policy responses to important economic problems that profoundly affect the quality of life in the United States and abroad. The Levy Economics Institute P.O. Box 5000 Annandale-on-Hudson, NY 12504-5000