SCALE MATTERS for macro changes such as job creation, or turning round stalled economies affected by the Crisis. Timing also matters. The Great Depression in the US harnessed millions of unemployed people through President FD Roosevelt’s WPA Program (The New Deal) that gave unemployed people public works jobs. 8 million jobs were created for 1.4 Bn USD (1935) per year. This massive and timely initiative was effective. In 8 years unemployment went from 20% to 2%. WW II caused a second and more massive jump in government spending, and effectively ended the Great Depression. Timing and scale.
linkedin post 2022-06-29 05:12:48
Nigel Fleming
September 21, 2022