Hyman Minsky is probably best known for his work on financial instability and financial reform, but he also wrote extensively about how to address the persistent problem of all those left behind by our increasingly financialized economy; about how to design policies that would put an end to income poverty in the midst of plenty. Despite the fact that far more attention has been paid to his writing on financial fragility, these were intimately related issues in his Minsky’s research, connecting the financial and “real” economies.
Ending Poverty: Jobs, Not Welfare
Multiplier Effect
A New Collection of Minsky’s Work
by Michael Stephens
1 comment:
I'll say it again: The problem is not lack of jobs per se but unjust wealth and income distribution.
And how did unjust wealth and income distribution occur, you might ask? Ans: Our money system, which creates and lends new purchasing power, thereby diluting, at least potentially, EXISTING purchasing power for the benefit of the banks and the so-called "creditworthy" at the expense of everyone else.
Jobs? Correct the wealth and income injustice and such jobs as are genuinely needed in the private sector will be created.
People who think jobs trump justice in the Bible are mistaken. The same God who cursed mankind to work for a living forbids theft, usury from one's fellow countrymen, and oppression of the poor and commands restitution for theft (including penalties) and debt forgiveness every 7 year.
Post a Comment