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Can "It" Happen Again?
Minsky's 1982 essay collection — the articulation of his argument that the Great Depression can recur because the conditions that produce it are structural features of capitalism rather than historical accidents.
Can "It" Happen Again? Essays on Instability and Finance is Hyman Minsky's 1982 collection of essays published across the preceding two decades, assembled by M.E. Sharpe into a single volume that made his scattered arguments accessible. The book's title asks the question that orthodox economics of the postwar era had treated as rhetorical — can a depression like the 1930s happen again? — and answers it with a technically detailed yes. The essays develop the Financial Instability Hypothesis in progressive stages, apply it to postwar American financial history, and argue that the postwar institutional structure had moderated but not eliminated the dynamics that produced the Great Depression. The book was Minsky's most accessible work during his lifetime and served as the entry point for many readers who later engaged with Stabilizing an Unstable Economy.
In The You On AI Field Guide
The book collects essays Minsky had published across the preceding two decades, including early statements of his framework