Re: Minsky, FIH, and stability

[bcox@xxxxxxx (Brad Cox @ GMU/PSOL)]

lwray@xxxxxxxxxxxxxxxxx (Randy Wray) wrote:

>Paul Davidson commented that if one accepts Minsky's FIH (or the view
>that capitalist economies are fundamentally unstable), then one must
>either advocate free markets or overthrow capitalism. I am sure Paul
>just means to be provocative.

I find such interest in stability and equilibrium totally mystifying.
Living systems are fundamentally unstable, tending towards the equilibrium
known as death.

Someone, please explain. I'm honestly bewildered at why this
stability/equilibrium stuff has such appeal, even to the point that it
would be seriously put forth in an argument such as above.

--
Brad Cox; bcox@xxxxxxx; 703 968 8229 Voice 703 968 8798 Fax
George Mason Program on Social and Organizational Learning