Liberal Burblings

I always like to do the most minimal research for these things. John Maynard Keynes’ ashes were scattered over the South Downs. Otherwise the title of this piece would have been:

Hark! Is that the sound of John Maynard Keynes rotating in his grave?

I refer, of course, to Greece.

The Greek problem will go on and on and on until someone realises that to encourage growth you have to spend public money on public works. Build dams, roads, railways, leisure facilities, hospitals, schools, get people to paint stones white, dig up ditches and fill them in again – anything.

That is the only way you will stimulate growth and get the accelerator effect going – paying money to people to do public works, they then buy good or services from others and slowly the economy recovers.

You don’t do it by tight arsed, anally retentive, Germanic austerity packages alone.

And if you think I am talking rubbish, just look at the States. They had the most Keynesian of public works packages (a $787billion stimulus plan as well as $600 billion thrown out of a helicopter) and they are recovering – ish.

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