The benefits outweigh the costs because the alternative is a depression - and that's a really bad thing, people die etc. Also this isn't a symptom of a problem needing cured, it's more a symptom of the human condition.
> Its high value expenditure with newly created wealth taken from the savings of everybody else.
It's either savings or new wealth, it can't be both.
> It matters a great deal if it doesn't pay off.
I'm not sure you'd be of that opinion in a depression.
> - and that's a really bad thing, people die etc.
I'm all for saving people, lets call it charity though and not investment.
> It's either savings or new wealth, it can't be both.
True, I meant currency, its new currency taken from the savings of everybody else
> I'm not sure you'd be of that opinion in a depression.
Hypothetically if we used a global hard money system, like bitcoin, and the government was so sure that spending now would boost the economy in the future. I see no problem in them taking a loan and building some highways.
> Its high value expenditure with newly created wealth taken from the savings of everybody else.
It's either savings or new wealth, it can't be both.
> It matters a great deal if it doesn't pay off.
I'm not sure you'd be of that opinion in a depression.