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This is less a book than a collection of Minskys papers published over the years in various economic journals. Of course, this is a plus on two points 1) It is economics not philosophy and 2) It allows the reader to see the evolution of his thought from the the 60s to the early 80s. In Chapter Two Minsky provides the basic formula for the relationship of our advance economy:After Tax Profits = Investment + the Government Deficit - the Balance of Trade Deficit + Consumption Out of Profit Income - Saving Out of Wage IncomeReflection on this will allow the reader to better understand the complex relationships that govern the performance of the economy and the interconnection between Big Business, Big Government, executive pay, consumer behavior, and many other areas. He outlines three other types of economies where the following formulas hold sway:1) Profits = Investment (Pre-Keynesian, small government)2) After Tax Profits = Investment + Government Deficit (Huge Government with private investment)3) After Tax Profits = Investment + the Government Deficit - the Balance of Trade Deficit 3a) Profits = Investment - the Balance of Trade DeficitUtilizing formula 3a he predicts the Japanese economic malaise of the 90s in 1980.The other chapters in the book focus on unveiling the nature of true Keynesian economics untainted by the Neoclassical synthesis and, thereby, allowing the creation of policies to avoid another Great Depression. Unfortunately, no one was listening in the heydays of Reagans supply-side reign of terror that has continued to lead us to the Great Recession. One hopes that policymakers with the Minsky Moment on their lips will also be taking the time to read his thoughts on the issues that are inherent in the capitalist system we are embedded in.

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