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Hyman Minsky (1919-1996) was an American economist renowned for his research on financial instability and speculative bubbles. He earned a Ph.D. from Harvard University and taught at prestigious institutions like University of California, Berkeley. Minsky's theories emphasized the inherent fragility of financial markets, arguing that periods of stability lead to riskier behavior culminating in economic crises. His work gained prominence during the 2008 financial crisis, validating his insights into the dynamics of boom-and-bust cycles.