Nobody has a track record of using money well. Basically period. At best, you can find some examples that were short lived, but by and large, building wealth turns to either wasting it, or hoarding it.
With that framing, I honestly don't like "as long as we tightly control where it is spent" arguments. They all beg the question that we know where money should be spent. Where history is a great guide that, no, we didn't. We have examples to look to, to be sure. Some decent guidelines, as it were. But they are often last year's guidelines, and that year came and went.
So, I'm game to "keep our eyes open" as we increase allocation. But, by and large, I think insisting on winning bets is a fools errand that will likely cause more problems than it solves.
With that framing, I honestly don't like "as long as we tightly control where it is spent" arguments. They all beg the question that we know where money should be spent. Where history is a great guide that, no, we didn't. We have examples to look to, to be sure. Some decent guidelines, as it were. But they are often last year's guidelines, and that year came and went.
So, I'm game to "keep our eyes open" as we increase allocation. But, by and large, I think insisting on winning bets is a fools errand that will likely cause more problems than it solves.