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Hoover Dam: Worst Investment in History

paulinho Wrote: Sep 03, 2012 7:25 PM
I just visited Hoover dam and noticed that the overflow channels on each side of the dam have been dry and unused for years. The drought in the West continues unabated and all dammed lakes in the region are well below their normal water levels. Experts predict that the situation will worsen and some cities (like ours), are even are hoping to convince citizens to finance the construction of a 100 mile long water pipe from Lake Powell to assure that rising populations will not go thirsty. The Colorado River can no longer meet growing needs for potable water, but the politicians will not listen.

Economics professor Bernard Malamud not once but twice invited the crowd in Las Vegas to visit nearby Hoover Dam to see for themselves an example of the productive assets that were created by Franklin Delano Roosevelt's (FDR) New Deal. Professor Malamud was recruited to plead the Keynesian side of the argument in an "FDR's Depression Policies: Good Deal or Raw Deal?" debate with the Foundation for Economic Education's (FEE) Lawrence Reed during FreedomFest.

I finished my masters degree from UNLV under the tutelage of Murray Rothbard but I started my coursework with a class or two from professor Malamud, who, while...

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