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The Legal Instability Hypothesis

Brian Levy

出版	SSRN, 2016
URL	http://books.google.com.hk/books?id=pOf-zgEACAAJ&hl=&source=gbs_api

註釋

Following the Great Recession, economist Hyman Minsky's “Financial Instability Hypothesis” became a trendy way of understanding the creation and collapse of the recent asset bubble.In the past eight years, dozens of articles have been published in legal journals discussing how Professor Minsky's insights affect banking law or law and economics philosophies. Under the Financial Instability Hypothesis, Professor Minsky argued that prolonged economic growth created the mindset that necessitates economic crashes. “The Legal Instability Hypothesis” hypothesizes by analogy that prolonged stability for a given holding -- that is, repetition without full reconsideration -- creates circumstances that makes it more likely for that holding to be overruled, particularly under the factors laid out in Planned Parenthood v. Casey, 505 U.S. 833 (1992).