As long ago as 1986, economist Hyman Minsky formulated one avenue worth exploring in his book Stabilising an unstable economy, a book which remained largely obscure for 20 years – and thus long past his death in 1991.
It was only the 2008 crisis which revealed the importance of his theses to all.1 1/6  BIS central bankers' speeches  Minsky saw financial markets as having a natural inclination towards instability and crisis. That was wholly out of kilter with the then-prevailing zeitgeist – and the blossoming financial markets of the period.