Brenner's Hypothesis Revisited; Or, the Logic of Discipline in US Manufacturing

Hyun Song Shin wrote in 2010,

John Geanakoplos deserves credit for having blazed the trail on the analysis of leverage and collateral and their crucial impact on the workings of the financial system.… In developing these ideas, he has been ahead of the pack. Indeed, until recently, there was no pack.

In their paper titled "Holding idle capacity to deter …