I talk a lot about the era of the Great Depression, the New Deal, World War II—and there’s a reason for that. We’re not in nearly as dire of straits today as we were then, but it’s an era anyone who’s serious about governing in tough economic times should learn from. Our nation and our economy teetered on the brink of collapse and possible descent into fascism, but because we dreamed big and took the action we needed to, we pulled ourselves back, and the American economy left World War II as the most powerful in the entire world.
Much of that success goes back to the economic ideas of one of my icons, John Maynard Keynes.
Amid the chaos of the Great Depression, Keynes, an economist from England, had developed a set of ideas that would fundamentally change how governments interacted with the economy over the next century. Keynes argued that the government is just as much a part of the economy as private interests, and that in times of economic downturn, when private interests fail to keep people employed, governments can stimulate demand by making an investment directly in the people.
If that sounds familiar, it should. It’s only the exact message I’ve been shouting from the rooftops for the last fifteen months. Keynes’ work was groundbreaking, and it led to a revolution in economics, paving the way for policies that created jobs, built infrastructure, and revitalized our economy. Suddenly, we had a way of understanding fiscal policy that allowed us to make a real difference in people’s lives.
Keynes’ fundamental belief was that when people don’t believe in the economy—when we leave people behind—they won’t simply wait patiently for things to get better. They’ll tear the system down, and there’s no telling what new system may arise from the ashes when folks are just trying to get by. He’d seen the failures of World War I lead to the rise of fascism and communism in continental Europe, and he saw it as imperative that we leverage our economy to prevent that.
His ideas changed the world, and if we organize together, we can leverage them to change our world again.
Over my lifetime, we’ve seen firsthand the transformative impact of smart, strategic investments in education, infrastructure, and small business development, just like those Keynes advocated for—and we’ve also seen how things fall apart in their absence. Leaving people high and dry is a policy choice. When we choose differently, when we prioritize our citizens and provide them with the tools they need to succeed, we create a rising tide that lifts all boats.
But to shape that destiny—to build that rising tide—we’re all going to need to stand together, John. Change won't happen overnight, and one race won’t transform our state, but with your support, we can start laying the foundation for a better tomorrow. Together, we can stand by state employees, invest in every community, and pave a better path forward for North Carolina.
