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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (616236)6/15/2011 11:26:25 AM
From: i-node2 Recommendations  Read Replies (1) of 1580442
 
>> That's the folly of Keynesian economics.

Absolutely. Productivity? Doesn't matter.

Reminds me of this.

Prof. Friedman visited China in the early 1960s and was taken by a government official to see a public works project. Chinese workers were building a canal. Friedman was struck by seeing everyone digging the canal with shovels. Friedman asked the official, "why no heavy earth-moving equipment?" The official said, "oh, this is a jobs program." So Friedman then says to the official, "then why don't you just give them spoons instead of shovels to create even more jobs?"

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