The Flaw of Keynesian Economics
and other things
There is an idea that spending is good for the economy. That idea is correct, the flaw lies in another. What is good for the economy is not always good for the people involved. For example, national production might be very high, but production levels would not indicate the huge national disaster that might have taken place. Destruction. Waste. While these might stimulate demand, and therefore production and employment, they will never be good for society. Remember, economics is the study of how people deal with scarcity. People satisfy want by trading, but without want, there would be little or no trade. Hence, no economy would be necessary. Jobs are necessary, but only as a means to an end. If the end were already accomplished, no means would be necessary. Destroying food to create jobs is a backward strategy formed by focusing on the means, and a strategy that was actually used by the Federal Government during the Great Depression. All in favor of more government intervention, say "Aye."
