"Corporate Advisor, Academic Economist, Public Intellectual: Hyman Minsky as Triple Insider-Outsider, 1949-1990"

Drawing on Hyman Minsky's correspondence for the first time, this paper shows how his economic ideas, which are widely considered visionary since the Global Financial Crisis, were forged in tension between his three roles. First, he served as advisor to a commercial bank, allowing him to keep up-to-date with changing money-market practices. Second, he sought to change mainstream economics and became a heterodox economist only when the Federal Reserve, which he had cultivated for four years, rejected his request to collect the data that would have allowed him to empirically test his theory. Third, he later turned to journalists and legislators in an attempt to impose regulation on the money market. All in all, this study of Hyman Minsky as a triple insider-outsider sheds light on how rapidly changing corporate practices in the financial sector interact with the academic and policy domains.