madfranks
19th April 2012, 09:10 AM
I came across this gem from the one and only John Maynard Keynes himself, on how to end unemployment.
http://econ161.berkeley.edu/economists/keynes.html
If the Treasury were to fill old bottles with bank notes, bury them at suitable depths in disused coal mines which are then filled up with town rubbish, and leave them to private enterprise on the well-tried principles of laissez faire to dig them up again… there need be no more unemployment and, with the help of the repercussions, the real income of the community and its capital wealth also would probably become a great deal greater than it actually is…
This is so ridiculous as to be laughable! Yeah, let's not worry about producing anything of value like food, clothing, equipment, etc. - all we have to do is bury paper money underground and everyone will work digging and burying and before you know it we'll all be prosperous and wealthy!
http://econ161.berkeley.edu/economists/keynes.html
If the Treasury were to fill old bottles with bank notes, bury them at suitable depths in disused coal mines which are then filled up with town rubbish, and leave them to private enterprise on the well-tried principles of laissez faire to dig them up again… there need be no more unemployment and, with the help of the repercussions, the real income of the community and its capital wealth also would probably become a great deal greater than it actually is…
This is so ridiculous as to be laughable! Yeah, let's not worry about producing anything of value like food, clothing, equipment, etc. - all we have to do is bury paper money underground and everyone will work digging and burying and before you know it we'll all be prosperous and wealthy!