Now you've ruled out lots of other stuff though. Is loaning money "production?" Is spending for services (like, software development!) "production"? Is investing in assets like real estate "production"? All those activities create wealth!
Now you've got a definition where only primary production, like farms and construction and mining, have any value. And that's silly too.
No, all economic activity creates wealth. The idea of "spending" being separate from "producing" only holds at the microeconomic level where you are playing a zero sum game with a single bank balance.
Now you've ruled out lots of other stuff though. Is loaning money "production?" Is spending for services (like, software development!) "production"? Is investing in assets like real estate "production"? All those activities create wealth!
Now you've got a definition where only primary production, like farms and construction and mining, have any value. And that's silly too.
No, all economic activity creates wealth. The idea of "spending" being separate from "producing" only holds at the microeconomic level where you are playing a zero sum game with a single bank balance.