Minsky state as employer of last resort humanist gulag or useless as wage spiral regulator

Minsky public job sector PJS Regulating market mediated job wages Has to cut PJS COMPENSATION as market mediated compensation rises This indeed mobilizes the reserve army of the idled TO productive activity BUT the flows in and out operate as a counter weight to job market dynamics Improvement over unemployment insurance Payments that move to counter The rise and fall of job market conditions What if the public enterprise sector is just a hunk of formerly nationalized private firms a cross section of all jobs included Public firms competing with private firms on Shared markets Modern public work houses