It is asserted that WWII was the massive govt. spending that got us out the Great Depression, that it validates Keynesian theory. Fact of the matter is that during the war we were still in a depression as evidenced by rationing. Immediately after the war the economy was not that great either.
What the war provided was a huge post war industrial base and a GI Bill to educate millions of young men. Also, the war was fought abroad and greatly advantaged the U.S. because all or our industrial rivals were decimated; starting from absolute zero (except maybe the soviets).
That said how is borrowing mind boggling sums of money from the future going to pay for the present? Ans. - It doesn't. It is time to pay the piper. It is time to return to a values based system.
In my personal opinion the govt. should be only involved in massive money injections to educate the entire nation. The only govt. investment with proven returns. The only other thing the govt. should be directly involved in is public works developing alternative energies: new nuclear plants, solar plants, research in fusion, and biodiesel from algae.
What is left for govt. beyond that is returning to a market driven economy that is reasonably regulated. The values we speak off and reasonable regulation are what should be the subject of scientific analysis and debate.
I mean really. Guys hired to run around in Green T-shirts and weather striping or the govt. buying electric golf carts with no intended purpose is laughable economic theory.
BTW, INDIVIDUALS AND CORPORATIONS ARE NOT RESPONSIBLE FOR THIS ECONOMY. THE ONLY ONES RESPONSIBLE ARE OUR POLITICIANS (DEMOCRATS AND REPUBLICANS). THE BUCK STOPS WITH THEM, PERIOD. IRONICALLY, THEY ARE THE SAME ONES MANAGING THIS BAILOUT.
What the war provided was a huge post war industrial base and a GI Bill to educate millions of young men. Also, the war was fought abroad and greatly advantaged the U.S. because all or our industrial rivals were decimated; starting from absolute zero (except maybe the soviets).
That said how is borrowing mind boggling sums of money from the future going to pay for the present? Ans. - It doesn't. It is time to pay the piper. It is time to return to a values based system.
In my personal opinion the govt. should be only involved in massive money injections to educate the entire nation. The only govt. investment with proven returns. The only other thing the govt. should be directly involved in is public works developing alternative energies: new nuclear plants, solar plants, research in fusion, and biodiesel from algae.
What is left for govt. beyond that is returning to a market driven economy that is reasonably regulated. The values we speak off and reasonable regulation are what should be the subject of scientific analysis and debate.
I mean really. Guys hired to run around in Green T-shirts and weather striping or the govt. buying electric golf carts with no intended purpose is laughable economic theory.
BTW, INDIVIDUALS AND CORPORATIONS ARE NOT RESPONSIBLE FOR THIS ECONOMY. THE ONLY ONES RESPONSIBLE ARE OUR POLITICIANS (DEMOCRATS AND REPUBLICANS). THE BUCK STOPS WITH THEM, PERIOD. IRONICALLY, THEY ARE THE SAME ONES MANAGING THIS BAILOUT.