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Monday, May 19, 2014

The Derponomicon: Part 16

A response to this quote from Keynes:

"If the Treasury were to fill old bottles with banknotes, bury them at suitable depths in disused coalmines which are then filled up to the surface with town rubbish, and leave it to private enterprise on well-tried principles of laissez faire to dig the notes up again . . . there need be no more unemployment. . . . It would indeed be more sensible to build houses and the like; but if there are political and practical difficulties in the way of this, the above would be better than nothing."

John Maynard Keynes, The General Theory, p. 129.

So I am supposed to discuss the idea of burying bottles of money under garbage and putting people to work digging them up? Was this a serious idea, or just intentional hyberbole. The idea that the unemployment problem can be solved simply by employing people to do whatever menial busy work and whatever wage is kind of silly. It's not just that people need jobs, people need good paying jobs that will actually allow them to be independent and be able to eat, pay bills, and rent. Simply removing the minimum wage, or manufacturing low level jobs for people to work isn't solving the problem. Unemployment could be at zero, and it wouldn't make a luck of difference is the same amount of people still qualified for food stamps and welfare. Removing food stamps and welfare, would just mean that people starve, or turn to crime and violence to provide for their families. The problem today is that no one is invested in America anymore. During WW2 it was a prosperous time, because everyone worked for the war effort (arguably the last legitimate war the US was ever in) building things, recycling scrap, buying war bonds, whatever it took. Every one was invested, everyone took part, everyone reaped the rewards. Nowadays all of that stuff is outsourced to no bid politically connected multi-national corporations that could give two shits about America, or Americans. Of the trillions pissed away on Afghanistan and Iraq, barely any of that money is ever coming back to the US. The US used to be a community, where everyone tried to help each other prosper...until Reagan changed all that. Now it's every man for himself, fuck the greater good, and make as much profit as possible at whoever's expense.

Note the lack of awareness for the rationing of most goods during WW2. And again we see the lie that people would turn to crime if not for food stamps and welfare. Finally, we have an obligatory shout-out to the great Satan Ronald Reagan. 

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