Economist Xavier Sala-i-Martin shares some photos of Public Works Gone Awry:
It is commonly agreed that Keynes came up with the idea that public works are the best way to help the economy during a recession.As a result, Keynesian economists seem to have developed a blind faith in the government in general, and in the system of public works in particular.
I do not share the same faith in the government.
I do not share the same faith in public works.
And this may help explain why.