Minsky's Public Employment Strategy Against Poverty

Isik S.

AMME IDARESI DERGISI, cilt.45, sa.2, ss.1-28, 2012 (SSCI) identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 45 Sayı: 2
  • Basım Tarihi: 2012
  • Dergi Adı: AMME IDARESI DERGISI
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus, TR DİZİN (ULAKBİM)
  • Sayfa Sayıları: ss.1-28
  • Anahtar Kelimeler: Minsky, struggle against poverty, public employment strategy and shared prosperity, INCOME-DISTRIBUTION
  • Akdeniz Üniversitesi Adresli: Evet

Özet

Minsky, following Keynes's vision, asserted that capitalism has essentially failed to provide full employment, equitable distribution of income and financial stability. Minsky, based on his analysis on capitalist system with such deficiencies, maintains a capitalist model of shared prosperity. In his model, Minsky proposed a combination of a government (an employer of last resort) employment strategy for eliminating poverty, income policies for reducing the power of capital (euthanizing rentiers), and financial reforms. Minsky's approach differs to a great extent from the mainstream economics by those radical proposals. This paper analyses Minsky's public employment strategy against poverty. Furthermore, the study argues that the recent financial crisis, pushing upward poverty, unemployment and inequitable distribution of income justify Minsky's farsightedness.