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Keynesian Mistakes, item #243065

Mr. Geithner said we have “some ways to go” to heal the country from the crisis that we are in.

“You have to keep at it. You say that we are going to continue to do whatever we think will help get more people back to work, make the economy strong in the short term. Until we get definitively through this. And our basic strategy is to make sure we are healing the damage caused by this crisis and we have some ways to go as you know despite the improvement of the financial sector.

Geithner believes he is “healing the damage” caused by the recession. Like he was an economic doctor with a sick patient. But most doctors I know don’t take blood from one part of the body and inject it into another part of the body, and hope, somehow, there is more blood flowing in the body overall. Government programs can alleviate the suffering of the poor by taking from the rich, and alleviating suffering has to be the primary argument for anti-poverty/anti-calamity programs, but let’s not call that “healing.”


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