Quote by Hyman Minsky
"The assumption of rational expectations leads to poor prediction and dangerous complacency."
"The assumption of rational expectations leads to poor prediction and dangerous complacency."
"Stability is destabilizing."
"The economy is not a machine, it is an evolving complex system."
"In a world of uncertainty and changing institutions, the forward-looking behavior of economic units depends on the state of long-term expectations."
"Capitalism is a flawed system, but it is the system we have."