[laser]

Public investment is wonderful, even if the return on capital is lower than private allocations. Unfortunately, public investment is about 4% of GDP while total government expenditure (across all levels) is around 40% of GDP. Sadly this means a marginal dollar allocated to taxes under current spending is hardly going towards the next Arpanet or transistor. Compare this to when Arpanet was invented in 1969 public investment was about 10% of GDP on government spending 28% of GDP. So we've gone from a society using over a third of government spending to invest in the future, to less than a tenth.

[hankbond]

Do you have any links or topics you can drop on me to learn more about your perspective? I find it to be really interesting.

[laser]

For lack of knowing a more reliable modern source maybe something like “according to Mill, two types of consumption naturally flow from production: productive consumption, which aim is reproduction and the only one which adds to national wealth, and unproductive consumption, which aim is direct pleasure and diminishes national wealth”, effective social liberalism, and John Stuart Mill https://www.tandfonline.com/doi/full/10.1080/09672567.2023.2...