News of the current success (so far, so good) of the stimulus-funded projects reminded me of a conclusion I came to as a teenager.
As I drove across a bridge in bad shape in the late 1980s, it occurred to me that with high unemployment and low interest rates, municipalities could borrow cheaply to improve their sagging New Deal era infrastructure and put all them folks to work. Little did I know that I had arrived at a theory developed by John Maynard Keynes about 75 years earlier, and less did I know that those ideas wouldn't be in fashion for another 20.
About Me
- Justin Block
- Having studied economics and urban studies at the University of Texas at Austin, I am curious about how economic theory shapes urban issues; I believe the two are inexorably linked. I currently work for a CDFI that aids in neighborhood organization and development.
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