Madam, – Instead of following the Keynesian economics of the 1930s of “trickle-down economics” we should pursue a “bubble-up theory” at this point in our history. The former worked during the Great Depression, but our present state calls for a different approach. Instead of pumping money into the banks (some should be pumped in, but not at the rate we are doing) we should pump money into creating jobs through the private small business sector and corporations.
Specifically, creating jobs that permit the worker to work 24 to 30 hours a week, gradually lowering the work week for all workers from 40 hours to 24/30 hours. This would bring about a nation of full employment (in the case of Ireland prohibiting unemployment by law to rise higher than 4 per cent). The benefits that would result are many. Thousands of jobs could be created by “new leisure-time activities”, Citizens with a job generally have high self esteem. Family breakdown would diminish. The brain-drain which results from emigration would lessen. Crime and anti-social behaviour would decrease. The amount of money entering the treasury would dramatically increase and obviously the half million people drawing unemployment Government cheques would diminish significantly. It is time for a new approach and new thinking. – Yours, etc,