TL;DR - Government consumption crowding out private saving that would otherwise support investment and prosperity, see the last two graphs: https://mises.org/w

TL;DR - Government consumption crowding out private saving that would otherwise support investment and prosperity, see the last two graphs: https://mises.org/wire/malthusian-trap-keynesian-trap-british-economy-1810-2019 https://mises.org/wire/malthusian-trap-keynesian-trap-britis...