Quote:
Originally Posted by nik-
Where was that money created? New people just spring up in a city because there's an arena district now?
No. It's tax revenue cannibalised from another part of the city because a new arena doesn't create more wealth for the citizens, thus no extra money, thus no actual new tax revenue. Just revenue in a different place.
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Explain how standards of living rise.
Businesses create wealth.
By your argument, all businesses are just businesses that would have existed elsewhere. There is no new money, only money that would have been spent at some new suburban mall (that you would totally be against)