The Truth Is, We Desperately Need Our Government To Waste Hundreds Of Millions Of Dollars

The transcontinental railroad.

The highway system.

The Internet.

These are all examples of “platforms” upon which our economy is built.

They’re also each the product of profound waste on behalf of government, which built, funded, or supported each platform’s construction to its massive short term loss.

In his new book, “Doing Capitalism in the Innovation Economy: Markets, Speculation and the State,”¬†Warburg Pincus partner Bill Janeway explains that what we need right now is for the government to waste more money like that.

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