It's private companies making a bet on the AI boom.
What governments do (which is the actual content of the article) is betting on economic growth to exceed the growing debt.
UncleOxidant•14m ago
Which is their dangerous bet on the AI boom.
forgetfreeman•8m ago
Previously on We Bet On Unlimited Growth, the global financial meltdown of 2008. If I was even slightly less cynical I'd honestly wonder how many times they're going to stick a fork in the same outlet in my lifetime.
missedthecue•11m ago
Betting on economic growth exceeding the piling up of debt is something most governments around the world have been doing for about 40 years straight now.
j45•12m ago
Curious: Is there any technologies and their adoption that were successful that Economist was wrong, or right about?
ares623•11m ago
A "bet" implies there's a risk of losing if it doesn't play out. As far as the individuals in the Govt and the involved companies are concerned, there is no risk for them. It's not their money, and the individuals will come out much better off regardless of outcome. It is simply a good investment.
peyton•4m ago
Further, Uncle Sam can always service dollar-denominated debt.
ducktective•4m ago
I wonder about Japan and Europe these days. Back in the 80s, when Japan was pursuing the "Fifth-Generation Computers", EU and US scrambled to compete with Japan. Like, it was a big deal for strategists and decision-making high-level politicians of that era.
Now in 2020s, it seems only China is tailing US and in turn, US is wary of China. What gives?
zekrioca•33m ago