Minsky

Minsky is a system dynamics program with a unique feature I invented that makes it easy to model monetary dynamics. Called a “Godley Table”, this lets you model financial flows using the accountant’s tool of double-entry bookkeeping.

Minsky is Open Source–which means (a) that it is free and (b) that both the program and its source code are freely available. Minsky has been programmed in C++ and Javascript. Its chief programmer is my friend and colleague Dr Russell Standish. In the Open Source tradition, we would welcome assistance from other programmers.

Minsky’s project pages are https://sourceforge.net/projects/minsky/ at SourceForge and https://github.com/highperformancecoder/minsky at Github.

This is the Latest Windows version. Mac versions and sourcecode are available at https://sourceforge.net/projects/minsky/files/.

Modelling with Minsky

This free book is a companion to The New Economics: A Manifesto. It explains how to use Minsky, how to build all the models in that book, and how you can use Minsky to build your own models. The current version, published in October 2021, is incomplete due to pressures of other work; I will update it when time permits.

To download it, click on the “Download” link below rather than the hyperlink: the latter takes forever to load!

Minsky Models

These are the models used in The New Economics: A Manifesto.

This ZIP file contains the files used to generate the following figures in the book:

FigurePageDescriptionFile
Fig2-129Money enables the butter maker to buy a gun without the gun maker having to want butterGoldAsMoney.mky
Fig2-232The State as the conduit for fiat money transfers where money is the State’s liability and physical gold its assetGoldCertificatesAsMoneyGoldBacked.mky
Fig2-336Modelling the initiation of a monetary economy in Minsky–Godley TablesDesanOffaInitiationOfFiatMoney.mky
Fig2-438Modelling the initiation of a monetary economy in Minsky–PlotsDesanOffaInitiationOfFiatMoney.mky
Fig2-541The fundamental monetary operations of the governmentModernFiatMoney.mky
Fig2-1061The banking sector’s view of a mixed fiat-credit economy–Godley TableSurplusCausesDepression.mky
Fig2-1162An integrated view of government deficits and private sector creditSurplusCausesDepression.mky
Fig2-1367Accounting for a Modern Debt JubileeBasicModernDebtJubilee.mky
Fig3-278A predator-prey model in Minsky, using sharks and fishPredatorPrey.mky
Fig3-380Lorenz’s model of aperiodic cycles in the weatherLorenz.mky
Fig3-486The Keen-Minsky model and the ‘intermittent route to chaos’KeenMinskyModel.mky
Fig4-3108A simple energy-based model with resource depletion and waste productionGoodwinResourceDepletion.mky
Fig6-1147Simple population growth as an integral equation in MinskyPopulationGrowth.mky