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Proof: all those world-changing innovations just pouring out of socialist hotspots of the world, with their shared high living standards outpacing the rest. (/s

Proof: all those world-changing innovations just pouring out of socialist hotspots of the world, with their shared high living standards outpacing the rest. (/sarcasm). If Musk had not gotten wealthy on paypal, SpaceX wouldn't have been possible. Nor Tesla. If some country had capped his wealth at an arbitrary # (say, $1,000,000) none of this would have happened. Instead, there's a self-driving car in orbit around the sun and thousands of engineers doing amazing stuff. Opportunity is the natural consequence of a system that maximizes liberty. And yes, that opportunity is for success and failure. But by removing reward, you remove incentive, which reduces effort. Vicious circle. How is this difficult to understand?

solarkraft 8y ago
> If Musk had not gotten wealthy on paypal, SpaceX wouldn't have been possible Cool, that's about one guy. I understand that wealth management often includes investing into companies actually doing something, those will most often still be motivated by efficiency (because otherwise they'll be out-competed). This capitalist system works well, but the humans in the market can be helped out by regulating (oh, the evil word) the companies to give their workers certain rights. This slightly limits wealth accumulation on the higher end not by setting a maximum bank account balance, but by giving money to people who need it (and spend it), thus stimulating the economy further. This is something all "developed" countries seem to have realised, with the exception of the USA. Or maybe not.