Do not make the mistake of thinking that because my conclusion is the same as another person's that my reasoning is the same
There was an interesting lead paragraph in an article on the front page of The Wall Street Journal last Thursday:
"The blackout of 2003 offers a simple but powerful lesson: Markets are a great way to organize economic activity, but they need adult supervision."
Gee. They've finally figured that out. The nuns I had in grammar school were onto this adult supervision notion decades ago. It seems to be just dawning on the power brokers of the 21st century. Maybe soon the voters will catch on. You need adults in charge.
…Imagine if we had done some things differently. If, for example, instead of squandering such staggering amounts of federal money on tax cuts and an ill-advised war, we had invested wisely in some of the nation's pressing needs. What if we had begun to refurbish our antiquated electrical grid, or developed creative new ways to replenish the stock of affordable housing, or really tackled the job of rebuilding and rejuvenating the public schools?
What if we had called in the best minds from coast to coast to begin a crash program, in good faith and with solid federal backing, to substantially reduce our dependence on foreign oil by changing our laws and habits, and developing safer, cleaner, less-expensive alternatives? This is exactly the kind of effort that the United States, with its can-do spirit and vast commercial, technological and intellectual resources, would be great at.
Imagine if we had begun a program to rebuild our aging infrastructure — the highways, bridges, tunnels and dams, the water and sewage facilities, the airports and transit systems. Imagine on this Labor Day 2003 the number of good jobs that could be generated with that kind of long-term effort.
All of these issues, if approached properly, are job creators, including the effort to reduce our energy dependence. The big hangup in the economic recovery we are supposed to be experiencing now is the continued joblessness and underemployment.
A fellow I ran into recently in San Jose, Calif., Andy Fortuna, said: "I've got a college degree and I'm washing cars. I'm working, but I'd like a good job. If the idea is for business to employ as few people as possible and keep their pay as low as possible — well, how's that good for me? Who speaks for me?"