It’s no secret that people spend their money in different ways, depending on whether they are comparatively rich or poor. The poor will usually spend a larger portion on basic necessities, while the rich will typically spend more on luxuries. The latter never fails to cause consternation and concern among many observers.
Naturally, “liberals” are quick to condemn the “excesses” of the rich, but even self-styled free-market “conservatives” will express dismay at how the affluent use their wealth. Both political factions seem to think there are better, more beneficial ways to spend all this money. That betrays their fundamental misunderstandings about economics … or at least shows that their own emotional responses can blind them to economic realities.
For example, the lavish wedding of a wealthy heiress will employ caterers, florists, photographers, and the other creative and service professionals whom “liberals” supposedly want to help while also feeding the free market that most “conservatives” claim to support. Would these funds be better spent on charity? Or should they simply be taxed and redistributed as welfare payments? Then the recipients would know well enough to elect Democrats, I suppose.
