I have a feeling that over the last 100 years in the West, particularly in the USA, there has been a continuous decline in the efficiency of government.
At the end of the 19th century, the United States began to suspect that the growth of monopolies was threatening the political stability of the country, and some oligarchs were forced to break up their economic empires into several smaller parts (the first precedent was the breaking up of Rockefeller's Standard Oil into about 7 companies). Now I believe that if this step had not taken place, the fascists would have come to power in the United States in the 1930s.
Now, I believe, one can give an example of inefficiency - investments of Western companies into China, which the government either could not or did not want to fight. Everything is according to the Lenin’s phrase - “we will buy from the capitalists a rope with which we will hang them”. As far as I can see, currently the China is maintaining the regimes in North Korea and Russia which threaten the West with nukes (without the Chinese support these regimes would quickly fall).
And here is the second comparison. In the 1930s, the US government, in order to overcome the Great Depression, confiscated gold from the population. I heard the point of view that now the US government would not be able to repeat this - the population would not allow this now, because their trust in the authorities has greatly decreased.
Here is an article in Medium which explains the reasons of all this:
https://kimgriest.medium.com/real-reason-the-american-middle-class-is-disappearing-901cb78ababf