Thursday, March 13, 2008

More on Economic Multipliers

From Grist: and Yes Magazine

Number of jobs created by spending $1 billion on defense: 8,555
Number of jobs created by spending $1 billion on health care: 10,779
Number of jobs created by spending $1 billion on education: 17,687
Number of jobs created by spending $1 billion on mass transit: 19,795

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The multiplier of 9 previously cited on this blog was calculated by taking into account ALL the known externalities. Transit investment is justified by carbon dioxide reduction alone. But the carbon-auto lobby whose control reaches even the "enlightened" transportation and environment blogs won't even allow serious discussion. In any case, it is clear that even the most conservative estimates show that transit is one of the best public investments available.

1 comment:

Pantograph Trolleypole said...

This is why instead of giving people $600 we should have put those billions to work building new transit projects!