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Posted on 5/19/14 at 6:00 pm to Rex
quote:
The Obama stimulus package kickstarted 51 straight months of private sector job growth after he inherited the worst recession since the 1930's.
Posted on 5/19/14 at 6:03 pm to HailHailtoMichigan!
The last time I remember really good job growth was under Reagan and Clinton.
Not looking it up just what I remember.
I'm sure someone has a graph
Not looking it up just what I remember.
I'm sure someone has a graph
Posted on 5/19/14 at 6:05 pm to Rex
quote:
my Hunkydoria thread
I saw it
All hail REX, benevolent dictator of his own utopia!
I have a feeling that everyone is going to live happily ever after in Honkydoria.
Posted on 5/19/14 at 6:09 pm to goatmilker
quote:
The last time I remember really good job growth was under Reagan and Clinton.
Not looking it up just what I remember.
I'm sure someone has a graph
do you know why?
We are addicted to stimulus spending. If we had taken our lumps in the late 80s/early 90s or even early 2000s with regards to growth, the economy would be purring along right now. But we didn't. We couldn't handle a few quarters of negative growth, so we just spent our way out of the problem. Again, and again, and again. the corporations got complete control of washington, and boom we are fricked.
Posted on 5/19/14 at 6:32 pm to Rex
quote:
Public works ARE production.
a. not net (whatever money we use to pay for government projects comes out of the private market, either today or tomorrow)
b. his quote spoke of "maximizing" production, which can never be confused with government work
Posted on 5/19/14 at 6:33 pm to Rex
quote:
The Obama stimulus package kickstarted 51 straight months of private sector job growth
and we'll be paying that back the next 40 years, which will inhibit our ability to engage in private sector growth over the time period
Posted on 5/19/14 at 6:50 pm to Hawkeye95
quote:
But keynsian economics has 70 years of working for us. its failures are a failure of applying it correctly, more so than the theory itself.
Not really. The only reason it "works" is because all governments like to spend as much as possible. Keynsian thinking legitimizes spending more than your citizenry will pay in taxes. It is a form of involuntary taxation.
Posted on 5/19/14 at 6:53 pm to SlowFlowPro
quote:This is the key. You cannot hate full production without full employment, but you can very easily have full employment without full production.
"maximizing" production
Posted on 5/19/14 at 6:58 pm to SlowFlowPro
quote:
whatever money we use to pay for government projects comes out of the private market, either today or tomorrow)
Therefore, for every public job created by the bridge project a private job has been destroyed somewhere else. We can see the men employed on the bridge. We can watch them at work. The employment argument of the government spenders becomes vivid, and probably for most people convincing. But there are other things that we do not see, because, alas, they have never been permitted to come into existence. They are the jobs destroyed by the $10 million taken from the taxpayers. All that has happened, at best, is that there has been a diversion of jobs because of the project. More bridge builders; fewer automobile workers, television technicians, clothing workers, farmers.
Posted on 5/19/14 at 7:27 pm to Rawdawgs
quote:People forget that Keynes himself said that in times of boom, the government should lower spending. The problem is that politics prevents this from happening. People love their government cheese, even in times of boom.
Not really. The only reason it "works" is because all governments like to spend as much as possible. Keynsian thinking legitimizes spending more than your citizenry will pay in taxes. It is a form of involuntary taxation.
Posted on 5/19/14 at 7:37 pm to Rex
quote:
In a country where roads and bridges are crumbling I'd hardly worry about people being employed to do unnecessary things. And we no longer employ a WPA model, anyway. Stimulus money for public works is contracted out to private enterprise
Public works are contracted out to political cronies.
Posted on 5/19/14 at 8:23 pm to HailHailtoMichigan!
quote:
THE ECONOMIC GOAL of any nation, as of any individual, is to get the greatest results with the least effort.
Couldn't agree more, and it is this line of thinking that truly progresses a society. Focusing on jobs for the sake of jobs is very short-sighted IMO. It's all about production. Certain jobs should become obsolete at a constant or increasing rate if we are advancing as we should be.
This applies on a personal level also. I always laugh when I hear people talk about how many hours they work a week, and how hard they work each day. That's very nice if it makes you feel good, but how much have you actually accomplished with that time? That's what you should be focusing on.
Posted on 5/19/14 at 10:18 pm to rintintin
quote:It's more than short-sighted, it's ignorant. Jobs are a means to an end. The less jobs we NEED to do, the better. If the amount of employment is the standard used to judge a country, then African nations and North Korea are the cream of the crop.
Focusing on jobs for the sake of jobs is very short-sighted IMO.
Posted on 5/20/14 at 7:29 am to HailHailtoMichigan!
Economics is where I first heard the term "precious resources". The most efficient use thereof is what it is all about.
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