BRYAN CAPLAN
May 7, 2013
Keynesian Bets: What's Out There
May 6, 2013
Keynesian Bets Bleg
May 6, 2013
The Pyramid of Macroeconomic Insight and Virtue
May 2, 2013
A Natalist Provision
May 1, 2013
I Was a Teenage Misanthrope
DAVID HENDERSON
May 5, 2013
John Thacker on Vaccinations and the Sequester
May 3, 2013
Chef Rudy's Virtues Project
May 2, 2013
My take on Reinhart and Rogoff
May 1, 2013
Medicare Kills a Program


It didn't work in the 1930's either.
If you are going to make comparisons to the 1930s your charts should include 1930s data to demonstrate the points you are making.
Surely the stimulus is not 'irrelevant'? Surely such large changes in the economy must, overall, either benefit or harm the prospects of growth?
The data and analysis you present appears to make the argument that the percentage of the workforce which can be put to work by economic stimulus is much smaller than in previous decades. This would suggest to me that the stimulus should be smaller than traditional Keynesian analysis would suggest, not that fiscal stimulus is useless. My best guess is that you believe the amount is such a small percentage of the overall economy that targeting stimulus to the appropriate sectors would either be impossible, not worth the trouble, or too politically difficult. As bgc states, your conclusion is incredibly simplified, but I guess column space is what it is.