If you needed further proof President Obama’s economic stimulus package has been all but an utter failure with a few suggestions on to improve it (lest you leave the office sour) check out this piece in Forbes by a small business owner. He’s not impressed with the economic worldview of Mr. Keynes, and advocates investments be allocated to the people, not the government.
For all the talk about fiscal stimulus and jobs creation at the federal and state level, almost no one in government is doing anything about reducing the roadblocks to investment. For example, millions of people are newly unemployed, and in past recessions a large number of these folks have eschewed looking for a new corporate job and have started businesses of their own. Unfortunately, such prospective entrepreneurs will face a tangle of registration, regulatory and licensing hurdles, many of which have been backed by established businesses that want to avoid just this kind of new competition.
He then says this statement–which made me chuckle–because it’s a necessity that would never happen. I’m sure he is entirely serious (and should be).
No one in government, that I have heard, has even suggested any sort of regulation holiday as a potential economic stimulus program. In fact, most of the legislative moves at the national level have made private investment less attractive.
If you need a review of Keynes’ ideas check out the rap I wrote about (and take a listen, too).