| | I just loved the closing paragraph ...
You need rich people in your society not so much because in spending their money they create jobs, but because of what they have to do to get rich. I'm not talking about the trickle-down effect here. I'm not saying that if you let Henry Ford get rich, he'll hire you as a waiter at his next party. I'm saying that he'll make you a tractor to replace your horse. Not only does he concur with Henry Hazlitt's 3 things rich folks do with money ...
1) re-invest in their business -- which creates jobs (read: more wealth) for others
2) invest in others' business through stocks -- which creates jobs (read: more wealth) for others
3) live luxuriously, as with a yacht-crew, housemaids, chauffeur, tailor, etc -- which creates jobs (read: more wealth) for others
... but he specifically highlights the 4th way that the rich inadvertently "share" wealth - by making our very lives easier.
Bravo.
Ed
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