What is his major contribution to the field of economics?
Predicting market crashes
Defining GDP
Inventing a new economic theory
Writing economics textbooks
Answer
One of the major contributions to the field of economics was made by economist Hyman Minsky, who was known for his work on predicting market crashes. He argued that the financial system is inherently unstable, and that financial crises are inevitable. He developed a theory of financial instability that states that financial instability is caused by the interaction of three factors: endogenous money creation, leverage, and asset bubbles.
Nouriel Roubini: The Mastermind of Economics
More Questions
When did he become Professor Emeritus at the Stern School of Business of New York University?
For which institution did Roubini work as a researcher/advisor?
What was Roubini's focus of study at Harvard?
What was the subject of his BA degree?
Which U.S. political era did Roubini serve as a senior economist?
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