Re: Keynes quote > a little of topic

[James Vodanovich <jvodan@xxxxxxxxxx>]

At 11:30 AM 7/9/2002 -0400, you wrote:
> On Tue, 09 Jul 2002 12:48:08 +0800 James Vodanovich <jvodan@xxxxxxxxxx> wrote:
> > A little off topic but didn't Sweden print itself out of the depression?
> > The confiscation of wealth, was returned to the poor/unemployed in the form
> > of work employed on Government capital projects. Somewhere between
> > socialism and Robbin Hood.
>
> I do not know.  I haven't been watchin Sweden.


It was in the 30's, according to a documentary I saw some years back, it
was the inspiriation for the capital projects in the States during the
depression.

The printing of money to finance capital works projects to provide
employment to the unemployed, in the short term reduces the wealth of the
rich and devalues foreign investment, in the long term it can increase the
number of consumers (those with jobs) and manufacturing capacity . The
catch 22 is the effective increase in foriegn debt, and the cost of imports.

James Vodanovich