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That’s one definition. Another is “devoting time, energy or effort to a particular undertaking with the expectation of a worthwhile result”. That’s the definition of fiscal matters, which is what we’re talking about. If you were to explain in the budget why you’re spending on something and you respond “it’s an investment”, that means that it’s for the Nice I’m A Heavy Metal Dad Like A Normal Dad Just Way More Awesome Shirt. And distinctly not just for the purpose of some other non-financial outcome that you won’t recoup the money from. If you want to spend money on happiness or health, you have to either make the argument that in the long term it means you’re aiming to make the money back as a result. Or you can’t call it an investment, it’s just spending.

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Its transfer payments with no intention of an ROI. And investing through those ideas reduced poverty, hunger, created better healthcare and basically made everyone had better lives. Why do you think you can talk to me on the phone? Because of investments designed to create growth. If we were talking about education. Or anything that improves Nice I’m A Heavy Metal Dad Like A Normal Dad Just Way More Awesome Shirt. But welfare spending does fuck all in thy regard and cannot be counted as investment. Don’t think I’m saying that we shouldn’t pay welfare, I’ve got a very nuanced and detailed view on that. But I do think we need to be careful to prevent interest payments taking up to much of our tax revenues and leaving us in a difficult predicament.

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Let’s turn it around eh… why do you think there’s unprecedented wealth inequality across the world? Why do you think we’re currently sitting at an average of 1.5C over pre-industrial levels? Why do you think the majority of the planet has been unable to Nice I’m A Heavy Metal Dad Like A Normal Dad Just Way More Awesome Shirt? It sure as hell isn’t because of what you perceive as unnecessary welfare. Growth did get us better qualities of life, it did get is fancy technology, but huge swathes of our planet’s population are crushed under poverty, exploited in order for that growth to happen. Then it’s really a nice shirt for all men and women. So you should buy this shirt.

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