>But obviously, you can't pull ground breaking discoveries and great bussinesess out of the hat, and make government more efficient, just because there is more

>But obviously, you can't pull ground breaking discoveries and great bussinesess out of the hat, and make government more efficient, just because there is more money to be invested. Quite the opposite. I think we agree more than you think here. There weren't any good investments to be made, so the extra money thrown at investments is wasted through malinvestment rather than consumed. The big difference is that I'm explicitly trading off malinvestment with current consumption, rather than the inaccessible hypothetical world in which productive investment opportunities were pulled out of a hat.