Can It Happen Again?

In the winter of 1932-33, the American financial and economic system collapsed. Since then economists, policy makers and financial analysts throughout the world have been haunted by the question of whether "It" can happen again. No one has done more to put this question at the forefront of economics than Hyman Minsky, whose celebrated 'Financial Instability Hypothesis' is widely regarded as foreseeing the crash of 2008, dubbed the 'Minsky Moment'.

In this book Minsky defines "It", determines whether or not "It" can happen again, and attempts to understand why, at the time of writing, "It" had not happened again.

This Routledge Classics edition includes a new foreword by Jan Toporowski.