Profile image
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

George Will: The Boondoggle Of Infrastructure Spending

Sunday, November 27, 2016 8:14
% of readers think this story is Fact. Add your two cents.


(From IBD)

Groundbreaking for the Empire State Building was on March 17, 1930. Construction soon began and the building officially opened May 1, 1931 — just 410 days, during the Great Depression. The Pentagon was built-in just 16 months, during wartime. After seeing reconstruction of Manhattan’s West Side Highway take 35 years (construction of the George Washington Bridge took 39 months), Sen. Daniel Patrick Moynihan despaired that whereas America once celebrated people who built things, it now honors those who block building.

Today’s long lag between the conception and execution of infrastructure projects is one reason they are dubious as countercyclical economic stimulants, and as jobs programs for the unemployed. The economist Milton Friedman said that once, while he was taken to see a canal that was being dug, he expressed astonishment that there was no heavy earth-moving machinery, only men with shovels. A government official said that was because the project was a jobs program. Well, then, Friedman replied, shouldn’t they use spoons rather than shovels?

Click here for the article.


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.