Question: If Smaug had invested the gold the moment he got it, how much would he have had when he was killed?
Farming dwarves, elves, humans and hobbits? In other words, Government. Tolkien tells the founding myth used by the farmers to justify their farming: "Look, if you don't obey, it be dragons, orcs and dark lords." — exactly what a dark lord would say.
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"'We kill merchants, we rob too much, they never come back. Dumb. We let them go, they get rich again, our sons rob them. Such is wisdom.' 'Ah... it's a sort of agriculture,' said Vimes. 'Right! But if you plant merchants, they don't grow so good.'"~Terry Pratchetts Jingo
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