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Ending Poverty: Jobs, Not Welfare Paperback – March 27, 2013


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Product Details

  • Paperback: 214 pages
  • Publisher: Levy Economics Institute of Bard College The (March 27, 2013)
  • Language: English
  • ISBN-10: 1936192314
  • ISBN-13: 978-1936192311
  • Product Dimensions: 8 x 5 x 0.5 inches
  • Shipping Weight: 9.1 ounces (View shipping rates and policies)
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (4 customer reviews)
  • Amazon Best Sellers Rank: #650,876 in Books (See Top 100 in Books)

Editorial Reviews

About the Author

Hyman P. Minsky was an American economist who studied under Joseph Schumpeter and Wassily Leontief. He taught economics at Washington University, the University of California–Berkeley, Brown University, and Harvard University. Minsky joined the Levy Economics Institute of Bard College as a distinguished scholar in 1990, where he continued his research and writing until a few months before his death in October 1996. His two seminal books were Stabilizing an Unstable Economy and John Maynard Keynes.

Minsky held a B.S. in mathematics from the University of Chicago (1941) and an M.P.A. (1947) and a Ph.D. in economics (1954) from Harvard. He was a recipient in 1996 of the Veblen-Commons Award, given by the Association for Evolutionary Economics in recognition of his exemplary standards of scholarship, teaching, public service, and research in the field of evolutionary institutional economics.


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4 of 4 people found the following review helpful By Hans G. Despain on May 31, 2013
Format: Kindle Edition Verified Purchase
Following the financial collapse of 2007-8 Minsky came (back) into economic fashion. The "Minsky moment" and financial instability hypothesis became more or less mainstream. Minsky's work on the financial industry and instability is absolutely essential reading.

Minsky develops his theories of financial instability from a particular interpretation of John Maynard Keynes's The General Theory The General Theory Of Employment, Interest, And Money and then Minsky elaborations. Readers of Minsky's "John Maynard Keynes"John Maynard Keynes know that Minsky also developed particular policy (e.g. employer of the last resort) and theories of how to better institute greater financial and economic stability. Indeed Minsky wrote about these issues throughout his entire economic career.

This new book is a collection of excellent examples of these efforts, what could be dubbed `Minsky's theoretical policy.' There are seven articles some of which have been published before, dating from 1965 and 1994.

The financial collapse gave to Minsky's work on financial instability a renewed relevance and urgency. Likewise this current "Endless Crisis," (see
...Read more ›
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3 of 3 people found the following review helpful By peu importe on May 28, 2013
Format: Paperback Verified Purchase
Hyman Minsky provides here a great account on how and why free-market laissez-faire is simply too abstract to solve once and for all the problem of unemployment.

Also a great insight on Keynes subtleness compared to many "keynesian" caricatures.
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1 of 1 people found the following review helpful By D. Lynch on March 19, 2014
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This is a collection of Minsky's papers on job creation and welfare. The neat thing is that the papers are presented in chronological order so that you can observe how his philosophy evolved.

The bad thing is that Minsky's thinking on these issues were quite muddled.

Minksy constantly criticizes Keynesian stimulus policies, yet the fact is that the New Deal / Great Society era that he refers to had an economy that seems pretty good by modern standards.

Minsky claims the War on Poverty failed, yet by the end of LBJ's term unemployment was 3.5% and the Gini coefficient reached its all time low.

Minsky claims that construction workers were to blame for inequality, never mind the 1%.

Minsky advocates repealing child labor laws and forcing children to work. He advocates getting rid of Social Security and forcing old people to work until the drop.

Minsky advocates taking unemployed people as they are and creating jobs that fit their skills, but he never satisfactorily explains how he would create skilled jobs out of thin air.

One is left with the impression that Minsky was motivated by a puritan work ethic and perhaps by some racism. There is very little sound economic reason behind his policy proposals.
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Format: Kindle Edition Verified Purchase
Minsky provides a detailed series of essays on the link between poverty and joblessness, the value of full employment policies and the potential difficulties that might arise. Rather than welfare programs which inherently assume poor people are the problem, governments should create tight full employment to empower workers and generate rising standards of living for all citizens.

This work is indispensable for anyone wishing to expand their understanding of macroeconomics.
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