Wednesday, October 29, 2014

#303 / Krugman's Point

Economist Paul Krugman writes a column for The New York Times that is widely syndicated. I saw his October 26, 2014 column in my local newspaper, the Santa Cruz Sentinel, on Tuesday, October 28th. His column was titled "Ideology and Investment."

Krugman's point is that social investment is what can and must drive our economy, and that it we want to achieve a healthy economy, we need to be willing, through our government, to borrow money and then to use that money to make collective (governmental) investments - for instance in infrastructure. 

Krugman's right. We are "all in this together." Individual hoarding leads to social collapse.

I mean, even our bridges are collapsing! Want economic growth? Rebuild our failing bridges. The Federal Reserve Bank of San Francisco says that!

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