Why government spending doesn't pay

Sobering British research has found no positive correlation between public investment spending and economic growth... and some kinds of investment corresponded with lower GDP.

Given the troubles of Europe’s welfare states, it is hard to deny that large public sectors have a negative impact on economic growth. Where government grows too big it crowds out private activity, redirects resources from productive to unproductive uses, and stifles the economy with extra regulation and bureaucracy.

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