Just like all these initiatives have been failures.

The problems are pretty fundamental issues of how we set up and developed our economies since around the late 80s.

Unfortunately that also means it will take decades to right the ship (and probably at least one more decade until people are even willing to accept that there's fundamental issues), but we still have lots of money, lots of engineers and lots of scientists. We'll get out of this, but it won't be pretty for quite a while in my opinion.