I'm not sure this is the way to think about it. It obviously matters if money is being wasted, but the question is to what end is the money utilized?
In capitalism, roughly speaking, the purpose of spending money is to generate a return on investment and the market does a reasonable job of doing that and a reasonable knock-on effect is rising standards of living, etc.
But in health care, for example, we might decide that a return on investment isn't the point, but the efficient allocation of resources still matters, to the end of making people healthier. Its more that free markets really struggle to optimize efficiency that isn't directed towards ROI. I think its a genuinely moral philosophical question - if you really prioritize freedom over all else, then markets are sort of the best you can do and you just give up on collective or philosophically motivated goals. But, genuinely, and I think the current political moment underscores this basic fact, people care about plenty of other things besides freedom and even besides democracy.
In capitalism, roughly speaking, the purpose of spending money is to generate a return on investment and the market does a reasonable job of doing that and a reasonable knock-on effect is rising standards of living, etc.
But in health care, for example, we might decide that a return on investment isn't the point, but the efficient allocation of resources still matters, to the end of making people healthier. Its more that free markets really struggle to optimize efficiency that isn't directed towards ROI. I think its a genuinely moral philosophical question - if you really prioritize freedom over all else, then markets are sort of the best you can do and you just give up on collective or philosophically motivated goals. But, genuinely, and I think the current political moment underscores this basic fact, people care about plenty of other things besides freedom and even besides democracy.