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My understanding is that FDR's "make-work" policies weren't only that - they were involved in massive infrastructure improvements which paid economic dividends,
by ericd 11y ago
My understanding is that FDR's "make-work" policies weren't only that - they were involved in massive infrastructure improvements which paid economic dividends, and building out parks, which provide cheap entertainment for the public. Perhaps there were others that were less useful, though?
- brc 11y agoFDRs policies included the Hoover dam, a massive productivity boost. The latest round of stimulus spending included cash for clunkers, lots of money for financial institutions and paybacks to teachers unions and other supporters. That's not a partisan criticism, an administration of the opposite party would have given to their supporters in equal measure. The rules of startups are about : make something that people want, and don't take money for the sake of it, your better of solving problems out of necessity. The truth is that, as a theory, the idea works. In practice, it doesn't because it relies on the idea that central planning can work at all, and that lots of productive projects are available but can't get started due to lack of capital and resources. If a dam or bridge makes sense, then build it the moment it makes sense.