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I'm not sure about this. What is 'attractive' about the pen is that it involves highly valued scarce resources (so much so that, we are told, they have to impor
by Emma_Goldman 9y ago
I'm not sure about this. What is 'attractive' about the pen is that it involves highly valued scarce resources (so much so that, we are told, they have to import more from China). And it involves skilled labour. That doesn't seem a small cost. Lots of prized luxury goods - e.g. sports cars - take up highly skilled labour that, in the counter-factual, could do a lot of good. Also, the type of people who own these companies generally use the money to re-invest, or to purchase useless things for themselves.