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The meme that public housing projects would take up the slack for a struggling private building...

The meme that public housing projects would take up the slack for a struggling private building sector is given a blow by a housing ministry admission that one third of 10M reported "construction starts" are little more than holes in the ground. The news makes clear the reason for a divergence between rising "starts" and slowing cement and steel usage.
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Comments (1)
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    I don't see the problem here. Hand out the shovels (prominent politicians are always seen holding shovels), fill back in the holes and you've completed the Keynesian loop to prosperity.

     

    Think of the multiplier effect!
    17 Nov 2011, 11:47 AM Reply Like
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