In fact, though I'll be the first to admit I'm not familiar with Minsky's work, the article makes it sound like his theories are basically what we've been doing for the last 2 years (Prop up failing industries, use the government as an employer of last resort, etc...) I have two issues with this:
1. We've been doing just that for 2 years and the end result thus far is we're still in a recession and our government is dramatically poorer. When the government has to hold up "slowing job loss" as an accomplishment that doesn't impress me (It's also what FDR tried for 10 years to no avail)
2. In large part pumping money into failing institutions is what got us here. Let me cut through the economics babble and just put this in logical terms. Capitalism works because the best businesses succeed while the worst fail. If you prop up the worst so they can't fail you get a situation where they'll take crazy risks because there's no fear of failure. Hence where we are now.