Mises Wire
Author:
Ryan McMaken
Online Publish Date:
One of the more persistent myths about capitalism is that wealth and resources are “wasted” when spent on luxuries. At the core of this myth is the idea that when you buy, say, a $5,000 75-inch LED television, the money you spend on that item goes only to improve the life of the person who ends up owning the television. “Look at those rich people