Open Access


There are four versions of this paper given here. The first, some two years earlier than the other three, was prepared for the 1975 ASSA Conference and the Society of Government Economists, December 29, 1975. The second two versions, almost identical, were prepared for publication. They appeared in March/April 1977 issue of Challenge, and in the Winter, 1977 issue of the Nebraska Journal of Economics and Business. The archives also had the fourth version, differing only slightly from the published versions, that had no firm date.

The final archives here are an editorial letter from Wallace C. Peterson, Chairman of the Board of Editors at the Nebraska journal, and Minsky's letter in response.


The earliest version of the paper, given here as the main download, has extensive editorial queries and annotations, by a reader, probably the reader at the Nebraska Journal of Economics and Business.