# JP Bouchaud - marginal stability
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##  [May's Instability in Large Economies - José Moran, Jean-Philippe Bouchaud](https://arxiv.org/abs/1901.09629)
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- how economies are pushed to marginal stability
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system's size increases -> May's instability
mark-ups increase - firms seeking profit
connectivity increases
substitutability
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## liquidity and marginal stability
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Turbulence and liquidity cascade - Obizhaeva
Marginal stability and liquidity cascade - Bouchaud
Inelastic market hypothesis and liquidity cascade - Bouchaud - index inflow multiplier
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# Parents
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* JP Bouchaud⏎