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There was the Depression.
Banks failed, one after the other.
The economy went into “collateral arrest” or something like that.
Now let’s consider this dire scenario and say that any remedy or renaissance of the country rested solely on what the private sector would do. Even if the fortunes of the fortunate were provided as “seed money” to re-start manufacturing and commerce, and also provide mortgage relief to keep farmers on land and people in homes . . . . even with the contribution of all their millions, the millionaires could not have provided enough to prime the pump of the whole populace’s prosperity!! Not even their mere survival.
IT TOOK THE GOVERNMENT.
It wasn’t a socialistic insurgency or conspiracy.
It was economic salvation from the curse of uncontrolled Capitalism‘s free-market overheated mania-become a melt-down massacre of the economy!!.
No, he was not a Saint Roosevelt. He was surely but a secular Savior Roosevelt. His radio chats were but great public relations, personalizing the Presidency for the people. His programs putting people back to work building walls and taking photographs and repairing roads and all (WPA the best known of them) were completely insufficient to put the whole nation back to work and to restore an economic system. (We have here a precedent for perceiving the present percentage of re-employment only through oil drilling or infrastructure repair “recovery programs“).
Back then, how many cemetery walls could be built? Roads repaired? Pictures taken? Paintings painted? Etc? Farming revision and reorientation (such as contour plowing) for the “dust bowl survivors” provided precious but paltry economic stimulus. Even with the larger projects such as Blue Ridge Highway, proportionately few were put back to work. Other large public works projects such as the Hoover Dam helped but a small segment of a destitute national populace.
To get things moving out of the Great Depression IT TOOK THE GOVERNMENT’S most massive ENTERPRISE . . . . .
THE WAR EFFORT!!
No, the government itself didn’t set up shop to make tanks and guns and ammunition and aircraft and all in converted halls of congress or even the Pentagon.The government massively funded private enterprises to convert from peacetime manufacture to wartime production. And with government funding, these enterprises re-employed the thousands and thousands who were not taken into the military itself. The female-workforce, the “Rosie the riveters” (and all the other military manufacture capacities of employment) were earning their wages from the government (which paid for the war-effort conversions and costs of the private sector companies). Those companies wrote the pay checks, yes. But they were paying-out what the federal government had paid-in!
That was then. There was a war going on already. There isn’t now. In the paradigm of “conventional warfare” we could get involved back then. Perhaps we should have before. But the “theaters” of the war were far from our shores, which were separated from Europe and Japan by oceans.
Now, what’s a mere ocean? ICBMs are probably not as much of a worry as would be individuals with suicidal motivations as synergy to whatever weaponry or viral-ry they might be carrying on an inbound commercial flight.
No, the present world is no place to start a war to provide jobs.
Any massive military buildup would not only be counter-productive from the standpoint of “threatening” -- thus switching that “détente-mutualism” of trade competition (such as with China – an alms race) to an “arms-race”.
And in the present paradigm of threats by any nation, spending billions on massive conventional weaponry would be spending billions on obsolescence!! Yes, we have to maintain advanced and sufficient conventional armed forces (land, sea, air, and on foot). But “maintain” may be the pertinent term here. Billions for higher-tech etc. may be no more effective in our “strength” vs. aggressor threat -- than billions for exploring moon or mars would be for our “survival” in case of approaching meteor.
The economy is not going to be resuscitated by the government’s conversion to militaristic manufacturing of the auto industries or appliance manufacturers or any other major employers from whom people have been laid off.
So far I’ve noted that drilling and mining and even neo-militarism won’t put the country back to work.
SO WHAT JOBS WILL ??