$1 trillion more efficient in allocation of resources, freeing up money for consumer spending on everything.
I would argue the government case is actually much worse because at least the CEO has the feedback mechanism of revenue because the company <> customer relationship is entirely voluntary on both sides. The public vote is supposed to restrain the government in the same way, but in practice it seems to be much less effective in restraining politicians than the customer is at restraining companies.
It was not for a lack of motivation or a lack of cut-throat pursuit, consequences be damned.