This would, at a stroke, reducetherise in prices, increase productivity, and reduce unemployment.
If theTreasury were to fill old bottles with banknotes, bury themat suitable depthsindisusedcoalmineswhich are then filled up to the surface with town rubbish, and leave it to private enterprise on well-tried principles of laissez-faire to dig the notes up againthere need be no more unemployment and, with the help of the repercussions, thereal income of the community, and its capital wealth also, would probably becomea good deal greater than it actually is. It would, indeed, be more sensible to build houses and the like; but as there are political and practical difficulties in the way of this, the above would be better than nothing.
Six percent unemployment only looks good from the vantage point of the other 94 percent.
All industrial efficiency consists in trying to do with eight men what we have hitherto been doing with ten men. It consists in creating unemployment.
Hitlerhadalready foundout how tocureunemployment before Keynes had finished explaining why it occurred.
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