If coronavirus causes a Great Depression what could be a path out of another Great Depression?
Something similar to world war 2 level mobilization might just be the answer
A REAL space program, possibly the US deciding to build a starship? A multi trillion dollar mobilization of labor and capital and research and such. This would be an economic equivalent of world war 2 for the US.
A massive energy transition project to get the US completely off of fossil fuels by the end of the decade, building a completely new infrastructure powered by cleaner energy sources?
Possibly a switch to a centrally planned economy to get people back to work, would this be viable ?
The problem with the starship is once it blasts off we will likely never see it again? How would sending trillions of dollars into the cosmos affect the economy?
- 2 months ago
In the book by Howe and Strauss we have had great challenges since the Revolutionary War, to the Civil War to the Great Depression and came out of all those disasters and will slip into them again. As long as we are a land of liberty, life, and dreamers we will do fine. With half the nation in anger and bitterness those losers will fade away. And a new civic generation will build again as predicted in the book Generations.
- ZirpLv 72 months ago
"Something similar to world war 2 level mobilization?"
No, something similar to the marshall-plan. Create money and make sure it reaches those who will spend rather than hoard it.
However, maybe we should look beyond the economy and stop acting as if more economy is always a good thing. Do we really want people to phone other people and sell them things they don't need? Do we want programmed obsolescence? Should we pay our best and brightest for inventing new ways of making us click a link? Is there a point in making multimillionnaires even richer?
Wouldn't it be better for everybody to just reduce the working-week to 20-25 hours instead?
- ☺Lv 62 months ago
well how about building the wall along Mexican border and then hiring officials to go around and deport them on the other side and that way all the people they undercut in wages can go back to work for a decent wage again?
Meanwhile, how about bringing all those factories back to the USA? and hiring American workers again?
- OiyLv 62 months ago
The US will bring all manufacturing back from China. The job market in the US will boom again.
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- JohnLv 62 months ago
A key to getting out of a recession would be to put unemployed construction workers back to work. With good wages, those reemployed workers will create demand for more goods and services, which has a multiplier effect throughout the economy. Rather than science fiction style projects, however, the most immediate good would be through a massive infrastructure plan. Right now in the US, many bridges, tunnels, and roads are in a dangerous state of disrepair. The infrastructure and the economy could be addressed at the same time.
- Ender772Lv 72 months ago
True...a war was a poor economic stimulus..i mean it was a great stimulus...but if it was a war it could have been something so much better...like a massive energy transition project....A war was just easy because we were lazy...but if we put our mind to it and just DID IT...we could change the world....but the rich people in power dont want that so it will never happen
- Anonymous2 months ago
Are you aware that the reason the USA dose not become worse no more, with as enormous as the Nation Deficit is, is because China has been covering us? As I understood it, If we get the National Deficit high than ___ China can claim ownership of the USA. We have already passed that number. We were over nerves. We hit the number; we stayed still the USA. So people are not so worried anymore.
We need to Pray to God about this and think a lot more about this.
- righteousjohnsonLv 72 months ago
No. All of the ideas you posit will, would , and have failed. Google "Broken Window Theory" to see why. Basically, it shows that government does not create capital, it just redistributes it. The private sector is the only place to create capital. That is where the uniquely American term "making money" came from. Once the government stops "trying to help", things will improve quickly. Our economy is tanking because the government has made it illegal to be in business. This is not an organic crash, like in 1929, where stocks went down because of operational business losses, and all that capitalization evaporated. What is happening now, is that stocks have been sold in anticipation of pending losses, caused by an external dynamic which we control. The capital is still out there, but it's sitting on the sidelines, looking for a chance to jump back in. That is why the stock market is so volatile this time around. All businesses need is a green light to get back in business.
- DzeLv 72 months ago
we could sell libs as slaves to the chinese ...