Economics are part of our life. We try to treat them separately, like over there is the economy and here is history. Econ affects history and history often doesn't get it right if it doesn't respect econ.
In the end, all new schools, public or private, snobby or not, add value to the education market, making it bigger and more efficient, in the same way that Zuckerberg added wealth to the economy even for non-Facebook fans.
Coolidge showed that the best government was the one that got out of the way. When he refrained, the economy grew, the Ku Klux Klan faded, and Americans got Model A's and automobiles.
Coolidge believed that government officials who tell themselves that spending benefits the economy delude themselves and the citizens. Government budgets promote human freedom.
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