Does Government Spending Bring Prosperity?

Many leaders in high places now [1955] promise us that our government will never again permit poverty and depression to devastate our land. They propose more government spending as a cure for every economic evil. And millions of people believe that such a program will work.

The underlying philosophy behind political spending is not new. Similar ideas have appeared throughout all history. They came to full flower shortly after the economic collapse of 1929, when unbalanced budgets were generally accepted as necessary economic measures for relieving those in distress. You could not let innocent people starve, could you?

via Does Government Spending Bring Prosperity? – Percy L. Greaves, Jr. – Mises Institute.

We tend to live in the moment and think that our age is the age of new thoughts and new insights. Perhaps. But I am often impressed by the words of the past. Many of the best ideas and the best insights were written long ago. Consider the piece I quoted from 1955. The authors main points are as valid (and as contentious) today as they were then. What makes these thoughts less accessible are the language (it sounds old-fashioned) and the examples (which are really old-fashioned). A person could do worse than take some of these old pieces and update them for the modern ear and the modern world.

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