We don't have a great track record of converting "money supply" into the things we need, particularly if there's a long event horizon. If you give investors fr

We don't have a great track record of converting "money supply" into the things we need, particularly if there's a long event horizon. If you give investors free cash, will they build the tens of thousands of kilometres of high-speed rail we deserve so we can have a coherent multi-mode transport network, which leads to realignment of urban planning on a decades-to-centuries scale, and has no chance of turning a dime of profit until 2060 at least, or do we toss at into some crypto/AI/buzzword-du-jour sizzle reel that promises 500% returns in six months? We actually need state-level thinking and intervention, because they're the ones who can say "we're thinking beyond the next fiscal quarter" without a stockholder riot.