Supercapitalism author Robert Reich says ‘Keynes was right’

Posted on 2011/09/29 , tagged as

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Robert Reich, the author of Supercapitalism, published in paperback by Icon in 2009, writes in today’s Guardian that only Keynesian economics – stimulus by the government – can make America prosperous again.

‘Government can hire people directly to maintain the nation’s parks and playgrounds and to help in schools and hospitals,’ he says. ‘It can funnel money to help cash-starved states and local government so they don’t have to continue to slash payrolls and public services. And it can hire indirectly – contracting with companies to build schools, revamp public transportation and rebuild the nation’s crumbling highways, bridges and ports.’

‘Not only does this create jobs but also puts money in the hands of all the people who get the jobs, so they can turn around and buy the goods and services they need – generating more jobs. Not exactly rocket science.’

Read the full piece here and more about the book here.