> I am arguing that investments don't magically create value but only the work they support or enable.

Well, that's true in a sense, but discovering new information is valuable. I'm just saying that figuring out which work to support or enable is itself valuable.

I agree, though, that the U.S. undervalues making actual stuff with long term benefits. Ask kids what they want to be when they grow up. How many list jobs in manufacturing, inventing, research, mining, engineering, energy, etc.? Mostly they pick fine careers, but mainly service-heavy careers with low multipliers: teachers, fire fighters, police officers, athletes, entertainers, doctors, etc.