More investment is not a uniformly good thing, any more than increased consumption is uniformly beneficial. Not only does it matter what you invest in—and gover

More investment is not a uniformly good thing, any more than increased consumption is uniformly beneficial. Not only does it matter what you invest in—and government does not exactly have a stellar track record when it comes to choosing investments so as to maximize ROI—there is also a balance to be struck between investment and consumption. Favoring either one over the other through political means moves us away from the optimum balance, and over-investment (and malinvestment) can be just as destructive as over-consumption.