Hyman Minsky is yet another economist who sought to extend Keynes' ideas, this time around the role of financial transactions in a modern economy. Discuss Minsky's approach to financial fragility or financial instability (King, Minsky). The mortgage crisis and the financial collapse can be interpreted using Minsky's ideas. Use the article by Kaboub, Todorova and Fernandez ("Inequality-Led Financial Instability") to briefly describe the key determinants of the crisis.

article: https://www.uvm.edu/~sgedeon/summer2012/Kaboub_2010.pdf