[sama]

I actually say that government is bad at picking individual companies to invest in. I do think infrastructure investments by the government are important; go try to do business in a country where the roads are terrible and the trains don't run on time. If we had an efficient system for the private markets to do this, it might be better, but we don't right now.

[dakinsloss]

Thanks Sam for the clarification. I think the likelihood of one developing is much greater with less government involvement (because now there is less incentive to start a competing infrastructure business since your competitor can lose money and not die). If government were not providing roads, we would have tolls (likely in aggregate costing us less than what we spend through bureaucracy) and a lot more people thinking creatively how to build infrastructure. It's such a 'schlep' problem (thanks pg) only bc you have to beat a competitor that can't die and can arbitrarily decree that you are not allowed to do certain things.