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Putting Stimulus Dollars to Work

Posted by: Nate Berg

8 July 2009 - 9:00am

Economic improvement projects funded by the stimulus are moving full steam ahead -- in France.

French officials are fast at work on implementing the nation's $37 billion economic stimulus plan, with many projects currently underway.

"All told, Paris has set aside 100 million euros in stimulus funds earmarked for what the French like to call their cultural patrimony. It is a French twist on how to overcome the global downturn, spending borrowed money avidly to beautify the nation even as it also races ahead of the United States in more classic Keynesian ways: fixing potholes, upgrading railroads and pursuing other 'shovel ready' projects.

'America is six months behind; it has wasted a lot of time,' said Patrick Devedjian, the minister in charge of the French relance, or stimulus. By the time Washington gets around to doling out most of its money, Mr. Devedjian sniffed, 'the crisis could be over.'"

Full Story: France, Unlike U.S., Is Deep Into Stimulus Projects
Source: The New York Times, July 7, 2009
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Instead of demeaning so-called "third world cities", we would do well to observe, understand, and adapt such approach on a much more widescale basis.
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