A bit of Magic?
On Voodoo Economics (is there another kind?_
Be assured.
Magic and Voodoo are still safe and well.
The most effective and expeditious, way to attain – and retain -full employment , within a capitalist economy, was – astonishingly – never dreamt of even by the iconic economists of the past, Keynes and Marx included.
Now, that is saying a lot?
Curiously, though, it is doubtful if a new generation of economics textbooks will gush forth , carrying the new mantra to the millions.
Nor will Ivy League dons wax eloquent in their lectures , I fear, singing its praises.
In fact, chances are it will remain confined to the rarefied domain of high esoterics, deep in the corridors of elite power, in the safe hands of a privileged few.
And yet is it a tribute to some real , once in a lifetime, ingenuity, in its own right.
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Indeed, in a stroke of sheer , manifest, genius, current economic policy makers in D.C., hit upon what would have to count as a Nobel Prize winning formula – as simple, as it is baldly ingenious.
No need for solving equations, or crunching numbers.
And one would have to commend their supernal modesty in not taking public credit for it.
Can you guess ?
No?
Ok, ready?
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Prepare yourself for a small shock, even in these admittedly jaded times.
So here is the magic, made-with-pride-right-here-at-home, formula.
In fact, it could be a sign of the greatness the President seems to , mistakenly, think has departed our times.
No need to worry: it is , leastways in this area, alive and well.
So, how does one, virtually instantaneously, achieve full employment, or close, without batting an eyelid?
Easy.
I know, you’re thinking, but how?
Tag interest rates, manipulate the money supply, indemnify investment risk?
Nope.
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It is simply NOT to count the Unemployed.
There!
Even Hitler and Stalin missed the stark simplicity of it (pity: might have saved the lives of millions).
And they dare call it a dismal science!
Well, in fairness, it may not be rocket science: but could pass muster at least as a sprocket science, if it can help solve age-old conundrums, via its inspired practitioners, such as the one just illustrated.
Of course, I could be all wrong: maybe the flash of brilliance outlined did not stem from an economist.
A computer error might have been its provenance.
It’s like they say, perhaps: where opportunity met preparedness?
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So go ahead, pass it on to your local policy makers.
They will thank you for it.
I’ll bet,
[2017 © R.Kanth]