“War spending does not provide the foundations for future growth as well as does other types of investment. A country that borrows to make productive investment—in education, technology, or infrastructure—enhances its future potential: for most countries, the return on these public investments far exceed the cost of capital. Thus, such investments, even when debt financed, strengthen the country’s balance sheet and make it more capable of withstanding shocks. —Joseph Stiglitz, Nobel Laureate in Economic Sciences”