March 09, 2009 4:33 am
The size of the stimulus, represented as a lump macroeconomic figure, is not the only, thing that matters. The main function of a stimulus is fast creation of employment and restoring confidence in the economic viability of the country. Only small business, in particular high tech entrepreneurial ventures can do it. Ten thousand new ventures with very small investment in each of them will result in several new Microsoft and Google like giants. A proper stimulus could and should make it possible. The existing stimulus led by veterans of the failed financing industries does nothing of this sort. In fact its concentration on helping the banks and their manufacturing equivalents, such as Detroit, makes the recession even worse. — Aharon Meytahl, Vestal, New York
No comments:
Post a Comment