Jed Rothwell wrote:
Rick Monteverde wrote:
2. It promotes economic growth according to Keynesian theory.
Let's agree to disagree on that point.
We don't disagree. You say the Keynesians are wrong and I say I don't
have a clue if they are right or wrong. I am not taking their side. I
am just reported what they say. Obama is definitely one of them. He
has said so on many occasions. So was FDR.
You're absolutely right Jed, both presidents were Keynesian's. It's not
that it can't work in theory, the problem is getting it to work in
practice. If the money from the Porkulus had been spent on funding
venture capital projects, and if they had teams of people with business
startup experience picking them, then it might have produced economic
growth. Unfortunately a significant amount of the money was used to
provide pork pies for the various left wing special interest groups who
elected them. Well to the victor belongs the spoils.
What if it had a few hundred million earmarked for LENR research?
I'd have a terrible time going against it, but I know I should.
It's supposed to be an emergency stimulus response.
Well, as long as the few hundred million for LENR goes into the
pockets of Americans, and is used to buy American-made lab equipment,
that would make it a stimulus according to the Keynesian theory. It
does not really
If the money were to be spent on research, and that research were to
prove fruitful, then it could produce economic growth. Of course this
fanciful scenario assumes that there were venture capital available to
capitalize these inventions. It also assumes that there were no
Oligarchy determined to suppress the technology, and destroy America,
and that there were no scientific establishment who were either in
collusion with the aforementioned Oligarchy, or blindly protecting their
favorite paradigms. Well, you know what happens when you assume, eh?
So-called "boondoggles" or "pork" fail in category 3. They produce no
benefit. But, as I said, WWII produced
The original boondoggles were creations of WPA (whittle, piss and argue)
workers, who spent their time creating them. WW II produced lots of
savings, which were then spent to satisfy pent up demand.
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