Interest rates on government bonds are much lower than the required return on equity for private investors: What implications?

In the recent period, interest rates on government bond s have become much lower than private investors’ required return on equity. Governments (we look at the United States and the euro zone) therefore have a significant comparative advantage over the private sector when it comes to financ ing investments in infrastructure, renewable energies and in industries of the future. If one thinks that governments are bad at managing projects and that the private sector should therefore keep control of these projects, then public and private financing should at least be mixed so as to reduce the cost of capital.