Sounds good in theory, but practice that's silly. No business buys $5 billion bridges, like the new one being built now in NY cruising the Hudson. No business buys $5 billion airports, like Denver International, and the latest estimate to renovate LaGuardia. That requires a sovereign to borrow that much money in a way that lenders trust will be repaid.
If you want to argue governments act in part to facilitate waste and fraud, i.e. those airports and bridges don't really cost that much, I agree, but unless there's aggressive auditing attached to every project, I see no way around it. Enough people are sufficiently dishonest and greedy they will take if they can get away with it.
If you want to argue governments act in part to facilitate waste and fraud, i.e. those airports and bridges don't really cost that much, I agree, but unless there's aggressive auditing attached to every project, I see no way around it. Enough people are sufficiently dishonest and greedy they will take if they can get away with it.