A gem from Blinder’s nonsense

In the Wall Street Journal Opinion section this morning, Paul-Krugman-wannabe Alan Blinder wrote about The GOP Myth of “Job-Killing” Spending.

Most of it was confused nonsense.

But, there was one thing that he wrote that I agree with:

Dumb public spending deserves to be rejected—but not because it kills jobs.

I also agree with the inverse of this statement. Public spending should not be accepted based on the idea that it creates jobs.

While I’m always skeptical that public spending will create the benefits desired, I would much rather attempt to justify expenditures based on the immediate impact.  We’re building this bridge to reduce time wasting traffic congestion, for example.

Justifying expenditures because it creates jobs is not any better when evaluating public spending than it is when evaluating private spending.  When you spend money, is creating jobs a key factor in your decision?  No.  You justify your spending based on the direct benefits you receive.

Advertisements

3 thoughts on “A gem from Blinder’s nonsense

  1. Pingback: There Is No Need To Create Jobs | The Pretense of Knowledge

  2. Pingback: Is it worth it? Can we afford it? | Our Dinner Table

Comments

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s