A Modest Macro-Economic Proposal

One of the truly serious problems in the United States is the continual growth of poverty. In 1960, for example, presidential candidate John F. Kennedy pointed out that seventeen million Americans lived in dire poverty. Only four years later, President Lynden B. Johnson, campaigning against Barry Goldwater, brought to our attention the even more pessimistic message that 34 million Americans suffered from the dehumanizing effects of poverty. I am not certain exactly what caused this startling increase in the poverty level of Americans during the years 1960-64. (Can it have had something to do with the policies of the Federal Government during those years?) In any case, the American people re-elected President Johnson, possibly because they enjoyed the increase of poverty and therefore assumed that another four years of rule by the Democratic Party might bring poverty to 68 million Americans.

Now, there may be certain costs associated with the inauguration of my program. Not monetary costs—I believe in efficiency, as any modern economist does—but costs to the social fabric. However, efficiency is better, always. (On this point, see Dr. Robert McNamara, Dr. Robert Baker, Dr. Albert Speer [pre-1945], Dr. Bernard Cornfeld, Dr. Jay Gould and Dr. Polly Adler.)

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Gary North

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One of the truly serious problems in the United States is the continual growth of poverty. In 1960, for example, presidential candidate John F. Kennedy pointed out that seventeen million Americans lived in dire poverty. Only four years later, President Lynden B. Johnson, campaigning against Barry Goldwater, brought to our attention the even more pessimistic message that 34 million Americans suffered from the dehumanizing effects of poverty. I am not certain exactly what caused this startling increase in the poverty level of Americans during the years 1960-64. (Can it have had something to do with the policies of the Federal Government during those years?) In any case, the American people re-elected President Johnson, possibly because they enjoyed the increase of poverty and therefore assumed that another four years of rule by the Democratic Party might bring poverty to 68 million Americans.

Now, there may be certain costs associated with the inauguration of my program. Not monetary costs—I believe in efficiency, as any modern economist does—but costs to the social fabric. However, efficiency is better, always. (On this point, see Dr. Robert McNamara, Dr. Robert Baker, Dr. Albert Speer [pre-1945], Dr. Bernard Cornfeld, Dr. Jay Gould and Dr. Polly Adler.)