---Minsky’s theory, however, comprises a “two price” model - TopicsExpress

---Minsky’s theory, however, comprises a “two price” model which is of a very different distinctive nature. According to Minsky, there are really two systems of prices in a capitalist economy – one for current output and the other for capital assets. When the price level of capital assets is high relative to the price level of current output, conditions are favorable for investment; when the price level of capital assets is low relative to the price level of current output, then conditions are not favorable for investment, and a recession—or a depression—is indicated. Business cycles result from a dance of these two price levels, even as the price of a unit of money is fixed at one. (Kregel 1992, 87; Minsky 1986 [2008], 160--- Ludwig van den Hauwe

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