On the Institute for New Economic Thinking web site, I found the interview Steve Keen: A Computer Simulation of Monetary Dynamics. I think I have hit the mother lode, and it will take me a couple of blog posts to cover what I have just discovered.
The financial crisis that ran from 2007 to 2009 has been called a “Minsky Moment,” meaning it offered a much-needed reminder to all economists of Hyman Minsky’s neglected dictum that “capitalism is essentially a financial system.”
But even with this reminder, it is hard to know what to do next, since it is difficult to express Minsky’s vision using the standard equilibrium methods of economics. Arguably that is one reason that Minsky has remained a minority taste in economics.
This interview is just the beginning of the pay-off of my learning about this line of thinking.