Former Sen. Fred Thompson (R-TN) offers his blunt assessment of the $850 billion stimulus package that congressional liberals and President-elect Barack Obama have suggested to boost the economy. Thompson says this about the much-ballyhooed infrastructure spending: “My favorite stimulus idea is to give everybody who needs a job a shovel. We put half the people to work digging holes. We get the other half to fill them up.”
Fred Thompson on Keynesianism: Do Your Part, Spend More Money
Posted in Enterprise and Free Markets, Scribe
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4 Responses to Fred Thompson on Keynesianism: Do Your Part, Spend More Money
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So he only supports paying people to do nothing in a metaphorical sense?
Keynes died in 1946.
He never got to comment about how much sense redesigning cars year after year did not make when everyone knew WWII planes could do 400 mph.
Modern economists don't say how much has been lost in Demand Side Depreciation due to planned obsolescence since 1946 so trying to blame Keynes for anything now is totally ridiculous. Don't economists have enough computing power to do the calculations? Keynes never had any electronic help.
http://www.toxicdrums.com/economic-wargames-by-da…