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View Diary: Creating Jobs Is Not "Wasteful" (259 comments)

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  •  It depends what you mean by "creating a job" (0+ / 0-)

    Anyone can "create a job" simply by paying someone to do something. But can we create a job that grows wealth? That's the question. Arguably, some government jobs do that. And some don't.

    For example, infrastructure. Fixing a bridge is just maintenance. You had a bridge before, and someone fixes it, and you still have a bridge. You've given the bridge-fixer a job, but you haven't created any wealth, you've just stopped an existing bridge from falling down, and it has cost you money.

    Wealth creation involves manufacturing, basic scientific research, generally stuff of value you can sell to other people.

    •  poker strategy concept (1+ / 0-)
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      guilford caswell

      there is absolutely no difference between money not lost and money won. They are mathematically the same. If you fix that bridge it won't collapse. If it doesn't collapse then you don't lose millions in transportation and commerce. You don't have to spend millions making a new bridge, etc... There is no difference between that money not lost and money that we could create by pumping money into research that creates new sources of revenue.

      I agree that to stimulate the economy, we need to focus on building the economy of the future; however, I think you are mistaken about repairing existing infrastructure. There are a lot of things that have been neglected for three decades that simply must be fixed and it will help the economy just as much to do that. Lets put it this way, how much would we have saved if we had put money into the levees in New Orleans?

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