The majority of great works created by the ruling classes of Athens or London at the height of both cultures ascendency is a major counterexample. Maybe we just had bad luck as to today's ruling class.
What does the past have to do with the present quagmire we find ourselves in?
Surely no one would intentionally suggest we pay people to sit around with the hope they produce something anyone will be bothered to read (or whatever) in 2000 years.
Clearly Ireland does more than suggest it. If you think it's such a bad idea, maybe you can explain what salient factor is so different between the glorious past and the present quagmire.