Response to the virtuous circle of state investment‏

The picture on the right is of a stone wall plaque commemorating a major public construction project in 1922/23 in the Scottish town of Kirkcaldy (birth place of the current Labour Prime Minister). The sea wall along the Firth of Forth was constructed to 'relieve unemployment during a trade depression'.

It is as good an idea today as it ever was and interesting to note that back in 1922 the Burghers of Kirkcaldy Corportaion were implementing Keynesian solutions even before Keynes had theorised them. According to Wikipedia ‘Keynes was from 1924 to start recommending a fiscal response to unemployment by means of government spending on public works’ source wikipedia http://en.wikipedia.org/wiki/John_Maynard_Keynes#In_the_1920s

Local press reports indicate a major capital investment in a replacement sea wall is required in the near future: http://www.fifetoday.co.uk/fife-free-press-news/Sea-wall-may-scupper-Kirkcaldy.3679738.jp

Leslie Wright