|I'll take that 2 billion dollars if you're not using it.|
Photo credit: ugo.com
Salmon has an interesting idea regarding helping clear the housing market:
My idea: outsourced mortgage servicing. Create a mortgage servicer from scratch, where everybody who calls in is given a single point of contact — a unique individual who owns their problems and is charged with finding solutions to any problem, including refinancing and loan modification. There’s got to be a way of building up enough trust with both banks and homeowners, over the course of a year, to build a $2 billion business somehow.Personally, I'd use that 2 billion dollars a couple of ways:
- The Pharma Chemist Full Employment Act: 1 billion dollars to hire unemployed pharma chemists to work on antibiotics research and other unmet medical needs. I think I could make that money last over 5 years or so.
- 500 million for long-term oriented material science research, with an eye towards hiring un/underemployed scientists.
- 500 million for retraining scientists for other fields of work (non-science.)
Of course, this would introduce massive distortions into the scientific labor market. Doubtless, it's not worth it and we're better off with rogue traders doing their thing.
Readers, what would you do with 2 billion dollars? (Also, Salmon tries it a different way -- if you could hire 40,000 people at $50k a year, what would you have them do? Not postdocs, CJ sez.)