Naked Capitalism has the post Sovereign Spending in a Market Economy.
My idea is this: if we did what I just suggested, then, when the next recession hits—and the central bank finds that its traditional strategy of lowering interest rates is still not available (which is likely to be the case) and Congress is thus forced—against all its entrenched phobias and market ideologies—to appropriate another huge chunk of emergency sovereign spending, we’ll have a long list of ideas about how those new dollars can be spent to rapidly put them exactly where they most need to go. And once we’ve experienced how well that works, once we see that sovereign spending can expand the market economy rather than destroy it, we’ll have made a big step toward a general acceptance of, and appreciation for, the realities of modern fiat money.
Sorry, you’ll have to read the post to find out what he suggested. The article is a bit like a shaggy dog story. It takes a while to get to the point, but there is one, and it is worthwhile to contemplate.