Minsky Moment

Early in Kindleberger he elabortates on Hyman Minsky's theory of financial instability. In what was does Minsky's theory fit with the current financial crisis. Here is a Fed speech by Janet Yellen that may help. Sadly, following the financial crisis, economists quickly realized the literature was rather dated and economic research for the last 30 years left us helpless in understanding the crisis. We turned to work by Minsky.