The Globe and Mail reports in its Tuesday edition that one of the central planks of Carneyism is that Ottawa needs to spend less, and invest more. The Globe's Tony Keller writes that to the extent that's a substantial change as opposed to superficial rebranding, it is an extremely good idea. Long overdue, too. Prime Minister Mark Carney's biggest proposed public investment so far is the billions of dollars that his government and Alberta's are poised to sink into building a pipeline from Alberta to the Pacific. Is that spending? Or investment? Mr. Keller believe it's an investment, and potentially a very good one. He says it aims to generate substantial returns for the economy and taxpayers, and it's likely to deliver. Mr. Keller says an investment is money deployed with the aim of generating a return. A dollar planted today is supposed to yield more than a dollar tomorrow. But that's exactly what the Trans Mountain pipeline expansion delivered. The Bank of Canada estimated that the opening of TMX gave the economy a permanent boost of a quarter percentage point of GDP. The economic and fiscal impact of TMX shows that public investment is yielding returns significantly greater than the original investment.