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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: koan who wrote (96627)4/17/2009 10:26:00 PM
From: benwood1 Recommendation  Read Replies (1) of 116555
 
That 911 plan you talked about is ideal for gov't sponsorship. I'd classify that as research, and you are right, private research is unlikely to enter that sort of area.

But successes like that do not mean that pouring say $500 billion into our highways and bridges in a manner dictated by somebody behind a desk in Washington where political favors run rampant is a very good process.

Targeted research I think is something gov't can and should do. Public sector projects on a large scale however have a very poor track record. Ethanol is an example. We pay taxes to subsidize ethanol production. The end results in this "investmant" are many: we pay taxes to subsidize; corn costs more; there is a net INCREASE in oil imports due to fertilizer, transportation, and manufacturing; and ethanol blends harm many engines. Kind of a lose/lose/lose/lose.

We'll just agree to disagree on the central planning and spending. The USSR is my primary example.
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