I’ll preface my comment by saying this kind of thinking is fraught with peril. The law of unintended consequences makes knowing whether one’s counterfactual would produce the intended results impossible.
For example, in the US (and some other countries of the developed world,) there has been a proclivity to run up massive debt — both budget and trade. In the US, servicing debt has passed defense spending and (given current trends) will surpass entitlements to become the largest component of the Federal deficit. I am among those who think this will probably end catastrophically, given the complete lack of effort to correct the situation. (Jaw-jacking and firing civil servants whose salaries make up a pittance in comparison to interest payments — while building yet more debt-inducing budgets — has [unsurprisingly] not proved useful.)
So, this is definitely a trend I wish didn’t exist, but almost certainly the American and world economies would not be as well off to date as they are had this trend been kept in check, and it’s possible something might be figured out that allows a softer landing than I presently expect. The old man lost his horse. Good news? Bad news? Who’s to say?
Tiger Riding for Beginners 