Back in the day there were big infrastructure projects, the interstate highway system, nuclear fission reactors, USA was once a leader in rail, but now it seems USA can’t build any infrastructure at all, HDI is lowering, life expectancy is not as high as most other OECD countries. Anyone know what happened to cause this?
I also want to point out you are right to simply point out individual people who do incompetent things is not a material analysis, but what we can do is look materially at whether a system is setup in such a way that is encourages competence in its leadership or not in general.
Its an issue of how we view things. Everything that happens has a material reason for why it happened. The tough part is being able to dig into things, and find that root cause, and see it for what it is.