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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: CalculatedRisk who wrote (35711)	8/22/2005 6:21:42 PM
From: Tommaso	Read Replies (1) of 116555

Lots of goverment make-work projects in the 1930s had lasting good effects. The Civilian Conservation Core lodged young men in tents, fed them, and paid them a little, and built walking trails that are in use till today, among other things. The Federal Writers' Project produced wonderful guide books to individual states. Artists were hired to do murals in public buildings, maybe some statues. Things that are continuing commitments in other countries flourished in the depths of the Depression. Yes, the loss of human output and potential through 25% unemployment was a disaster and it really would have been better to have some people getting paid to do totally useless things. Right now a lot of money and food stamps just get handed out. >>>Comparing Keynes exaggeration of how to stimulate the economy to the "broken window" theory is lunacy. One is intended to spur fiscal stimulus (correctly), the other is bad economics.<<< Excellent point.

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