More Public Investments are Sensible and Necessary
by Philipp Heimberger, September 2016
The state often takes risks when private parties are timid. Low-interest rates create possibilities for expansive budgetary policy. Public investment in the infrastructure and education could benefit future generations by helping raise long-term prosperity and well-being. The one-sided narrowing of budgetary possibilities is excessive and counter-productive.
Beigewum, “Zero deficit myth,” Austria, 2000
Mariana Mazzucato, “The Entrepreneurial State,” 2018,
The state isn’t a business or a housewife but can incur debts to help present and future generations. As the leftist think tank Beigewum in Austria explains, the state enjoys a form of “eternal life.” Trump says he’s “in-the-moment” and doesn’t care about history, theory, principles, research or debate. Our challenge is to create robust job-creating schemes, affordable housing, and environment-friendly policies. Imagining that the market will automatically create jobs or affordable housing is illusory, wishful or magic thinking. That China’s investments fell 92% in the first five months of 2018 should make us pause and skeptical about the “deal-maker.”
The future needs public investments in the infrastructure and education. “The swan that floats and doesn’t sink represents the intransitory in the transitory” (Martin Heidegger). “The old gives way tot he new as the snow gives way to the spring” (Rainer Rilke). “The ultimate is the goal of the penultimate” (Dietrich Bonhoeffer). “History shows again and again how nature points out the folly of men” (Blue Oyster Cult, 1977)
Here’s a link to “Atlas of Work” from the DGB/ Hans Bockler foundation, first English edition May 2018, 64 pp – Happy reading and happy research!
more at www.onthecommons.org, www.freembtranslations.net, www.openculture.com, and www.grin.com