merrie says: According to an Associated Press report: “Overall, only $26 billion out of $274 billion in infrastructure spending would be delivered into the economy by the Sept. 30 end of the budget year, just 7 percent. Just one in seven dollars of a huge $18.5 billion investment in energy efficiency and renewable energy programs would be spent within a year and a half.” Now listen to Keynes in 1942: “Organized public works, at home and abroad, may be the right cure for a chronic tendency to a deficiency of effective demand. But they are not capable of sufficiently rapid organisation (and above all cannot be reversed or undone at a later date), to be the most serviceable instrument for the prevention of the trade cycle.” (Keynes, Collected Works, vol. XXVII, p.122 ). http://thinkmarkets.wordpress.com/2009/01/25/keynes-as-public-works-skeptic/#more-746 Keynes as said that, "It is a mistake to think businessmen to be more immoral than politicians." |
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