A quick introduction to modelling in Minsky & preview of the next release
1,187 views · Published 2 October 2017 · 1:31:34 · Indexed 22 September 2026
Channel: ProfSteveKeen · 2017 · Education
Minsky (the Open Source system dynamics program specifically designed to support monetary macroeconomics, downloadable from https://sourceforge.net/projects/minsky/) is difficult for economists to use, not because it has a poor interface, but because economists are simply unfamiliar with the methods of system dynamics, whereas they are second nature to engineers. In this brief lecture (about 90 minutes), I show how to model both a flowchart model and a double-entry bookkeeping model in Minsky, and also showcase some of the new features turning up in the next release of Minsky. If you are a user of Minsky and would like to support its continuing improvement, Russell Standish and I will shortly be launching a Patreon page specifically to fund the development of Minsky (download it from https://sourceforge.net/projects/minsky/). Please check it out when it's available (probably in December), and consider putting as little as US$1 a month to keep it improving, and to keep it free to download and use. I'll be "kickstarting" this process myself by personally funding the development of a new Godley Table. Assets, Liabilities and Equity will be "pre-loaded", in place of the current approach, which is a legacy of the days before developing Minsky taught me all I know now about double-entry bookkeeping.
