"The goal right now is to get the biggest employment bang for the buck." So says one of Jimmy Carter's advisers, defending what may become the most debated aspect of the President-elect's multifaceted economic program: his plan to create nearly a million jobs over the next two years by adding $4 billion and possibly as much as $8 billion to federal spending on public works projects and public service jobs.
Although jobs programs are a surefire way to get people on a payroll—any payroll—they can be expensive relative to their effectiveness. Public works projects,...
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