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by dustincoates 1238 days ago
Perhaps apocryphally (I can't find a valid source at the moment), Keynes was supposed to have suggested during the Depression that people be hired to dig holes and then fill them back up.
2 comments

He never actually suggested that.

What he did argue was that if you put people to work and pay them for it that's better for the economy as a whole than if they did nothing and earned nothing, even if the work they do is of low (perceived) value. Digging holes and filling them back in is simply an extreme example to emphasize the point.

The reasoning is of course a pretty standard demand-side argument: giving more people more money causes more money to be spent, which boosts the economy.

> extreme example to emphasize the point

Yes, you're right--I didn't mean to suggest that it was a serious policy proposal to dig/fill in holes.

I think that was ex PFC Wintergreen in "Catch 22" who spent the war digging and filling 6'x6'x6' holes and filling them.