3 ms·
Capital accumulation can still happen without wage accumulation. Just don't pay yourself too much and keep the money inside the business. Naturally the money wi
by tahssa 11y ago
Capital accumulation can still happen without wage accumulation. Just don't pay yourself too much and keep the money inside the business. Naturally the money will get spent on building things like tesla.
- PeterisP 11y agoTesla happened because individuals were able to take extremely large sums out of an unrelated business (Paypal), as did a huge part of early stage tech investments, funded at that point mainly by individuals who got multimillion exits in their previous businesses. If the money had been kept inside business, then you'd have the innovation rate that internal subsidiaries of IBM achieved, not the innovation rate of the Silicon Valley.
- Apocryphon 11y agoOr perhaps with sufficient tax revenue in its coffers, the federal government would be able to properly fund NASA, or a Manhattan Project aimed at reducing oil dependency.