Business: Pay Now, Win Later?

When Economist John Maynard Keynes published his General Theory in the 1930s, Franklin Roosevelt and his New Dealers saw it as philosophical justification for their much-disputed strategy of pulling the nation out of the Depression through heavy Government spending and big budget deficits. The Ford Administration, which has prepared a bold energy policy built around sharply higher prices for oil and natural gas, may get a similar boost from a new study by the Paris-based Organization for Economic Cooperation and Development. The OECD, a research-oriented group whose members are 24 of the world's leading industrial nations, concludes in a two-volume study...

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