Abstract :
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.
