George Will is being attacked for pointing out that net domestic private investment was negative at many points in the 1930s. But as Russ Roberts points out, George is right.
Why do we care? Because negative net domestic private investment in human language says:
“we have no hope.” And that was the attitude of business in much of the 1930s. Those New Yorker cartoons of people crying into their drink at their second home were accurate. They were not creating jobs.