As I prepare to see UW get its biggest test of the Big Ten season (against Purdue), a few quick hits on the new New Deal.
The real problem right now in the country is that no benefits from the alleged growth of 2001-2007 ever trickled their way down to vast majority of real people. So once the reality of "we're screwed and broke," sunk in, starting with the oil spikes this summer (which we can tell now were clearly caused by investor douchebag speculation more than any demand increase or supply cutback). So the answer is to get people back to a point where they think they will 1. Have a job, 2. Have that job be paid something and 3. Make it worthwhile to invest, because there's a better economic situation to look forward to in the future.
This is why the stimulus has to be spending and infrastructure based. Businesses will not look out for the right thing and hire folks because it might work out. They're more concerned with cutting ther losses and keeping their investors afloat- real workers come much later. And government is the best agent for pushing these new jobs in a certain direction, which is why green technology has to be a centerpiece. Once green technology is installed and shown to work, this will encourage others to take the risks to move that direction themselves, and the establishment of these projects gives the base to lead to economy-of-scale savings and advantages.
If there's something we've learned in the last 30 years of supply-side silliness, it's that corporations should never be expected to do the right thing. These are cold-blooded organizations that are designed to MAKE MONEY, and they will do it by any means necessary. This is why we have governments and law enforcement in the first place, becasue we understand that individuals do not always do the right thing, and that their mistakes have major impacts on other individuals, particular if the screw-ups sign your paychecks. You gotta have government go Warren G and Nate Dogg, and be the Regulators.
Oh, and if you're reading this Barack/ Axelrod- throw a few million Milwaukee's way. Our Mayor was smart enough to back you early, and we're freezing here. Help some of your Upper Midwest urban brothers out!
Edit: Disregard my ripping of Ben Sheets in my September post. Hey Benny- you're getting no bites, and the Crew needs a No 1 starter. Why not come back to Milwaukee for 1 year at $12 million and prove you can be healthy. If it works out, you get your multi-year paycheck and the Crew gets a big bonus at the top of its rotation, and might just be contender again. In econ, we call this a mutually beneficial exchange.