Minsky Moments in IT
From my time machine — August 20, 2007
According to the Wall Street Journal (In Time of Tumult, Obscure Economist Gains Currency) we’re having a Minsky moment in the financial markets: “…At its core, the Minsky view was straightforward: When times are good, investors take on risk; the longer times stay good, the more risk they take on until they’ve taken on too much…”. At some point, we’re reminded that the odds are usually stacked against the gambler. Taking on too much risk, whether from buying more house than you can afford (or being coerced into doing so), or investing in high-risk hedge…