Friday, December 09, 2011

Government Jobs Could Fix Unemployment

The critics of FDR say that the New Deal jobs program didn't do much to get us out of the Great Depression.  They say that it took World War II to get the economy back on its feet.  This is the actually a huge vindication of Keynesian economics.  WWII was a massive governmental job creation program that could not have been conceived unless it were forced upon us. The lesson we can take from that is that huge government stimulus can and does work.  Is it time for the economic equivalent of WWIII?

No comments: