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Originally Posted by Rodney
...Take that same money and build a bunch of industrial machinery, and you've created something that continually create things that can be sold or used or, even better, something that can create other machines to create more machines that create things that can be used productively. There's a breeder effect there.
A big 'ol house makes the rich man spent to build it and maintain it, with money he's obtained elsewhere. And there is some redistribution of wealth to others. But there's no breeder effect from the capital used to build the house that will create new wealth, for the rich man or for the economy....
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ARRGH!
Come on, Rodney, you have no idea what was or was not created by John Travolta spending this money.
To argue that the money could have been better spent goes against the principle of a free economy! There are invisible hands at work. INVISIBLE. Adam Smith used that language on purpose. Those were back in the days when words were not cheap. We are not supposed to look at it, study it and criticise!!!!!
He should have spent his money curing disease and feeding the hungry, clothing the naked and teaching the ignorant.
My grandpa always said "And if a frog had wings, it wouldn't bump its ass when it hopped..."