The rich get richer and the poor get screwed - again

Jan 2016
52,568
48,939
Colorado
#11
Its very simple really. All you need to do is to look at Elon Musk and Tesla. Over the past ten years Tesla's market capitilization has increased by some ridiculous factor. That's because Tesla has created wealth. And one of the results of course is that Elon Musk is extraordinarily wealthy. And that's self-evidently a good thing because wealth, for the most part, and particularly the wealth held in public stock companies isn't a mountain of consumable stuff somewhere. Elon Musks' net worth is probably 1,000 times greater than my own. But he can't consume 1,000 times more goods and services (though he might smoke 1,000 times more pot) but he clearly invests the vast majority of his wealth. And by investing this wealth, Musk mamade Tesla capable of building and improving its capital stock, for funding research and development/producing the Model 3, etc and for supplying seed money for his other entrepreneurial start-ups. But I must say you socialists never give up and between Liz Warren's wealth tax and AOC's 70% tax on high incomes, they'll make sure the likes of Elon Musk will never be able to start Tesla at all. Because after all, the government surely has better plans on how to invest, right? To the extent that the economy is planned by government, the plans of private people – not just Elon Musk -- consumers, other firms, etc spending their own money – are overridden by politicians and bureaucrats spending other peoples' money. By stomping out plans at the individual level – plans brought into coordination with each other through the competitive market and price system – economic planning by the state substitutes the force and stupidity of the giant, who is ignorant of important details, for the voluntary decision-making and intelligence of legions of ordinary people.

At the end of the day Elon Musk knows what to do with money and the government fucking doesn't.
The remarkable thing about your post is that it is clearly Donald Trump who wants to be the Great Central Planner of the American economy, calling all the shots from his perch in the Penthouse of the Trump Tower, telling the CEO of General Motors where she should locate her factories, ordering the Federal Reserve to slash interest rates by half a percentage point, forcing Americans to pay higher electricity prices in order to keep failing coal-fired power plants operating, setting tariffs to punish nations he thinks are somehow cheating us when they are actually our allies, picking winners and losers all over the economic landscape of America.

Shrug. I like Elon Musk, but I think he's better with rockets than he is with cars. Just my opinion.
 
Likes: jorae

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