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Minsky / Keen

Goodwin extended with debt: profit share π=1−w−r·d funds investment I(π) (nonlinear). Debt grows when I>π. Stability gives way to euphoric boom and Minsky moment. Stocks: ω (wage share), λ (employment), d (debt/GDP).

t0.0
ω wage share
λ employment
d debt/GDP
π profit share