According to Napier using his experience in Asia, governments will shrink the economy, making government debt the most attractive investment (especially for pen

According to Napier using his experience in Asia, governments will shrink the economy, making government debt the most attractive investment (especially for pension funds that need short term growth and stability) and then use that power to release government-backed credit to politically-favorable industries like energy, climate-change, construction etc. Effectively nationalizing the economy, pushing aside the central bank, and slowly eating up the savings of those who saved with inflation, while supporting companies who take on debt to build local (capital expenditures). That will keep going until people overthrow said government (most likely with another with a collection of favorite industries to subsidize), but that won't happen for a while because most people will enjoy the growth in local making at first. The failure points come because the government doesn't know what is actually needed and starts spending on stuff that is not needed (creating bubbles in construction like China with cities that stay empty) or starts a war (defense is an industry too, plus hard to overthrow a war-time government). Europe has started down this path already, while the US and Switzerland still stand as free market economies drawing in all the fleeting investment cash, until they bubble too much and lose their currency.