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> Even Elon Musk as hard working as he is cannot achieve his level of income off of his own productivity alone. Elon has specific role in "production". If his
by ajankovic 12y ago
> Even Elon Musk as hard working as he is cannot achieve his level of income off of his own productivity alone.
Elon has specific role in "production". If his work/energy/decisions are going to spawn new factory, new technology or new product that is going to improve productivity of millions then by all means his income is justified by his productivity.
> Printing money causes inflation under all cases unless money is literally destroyed at the same rate it is printed.
This is not true. Emphasis on "all cases". If you create money at exactly the same rate as the economy's produce grows than money has it's background in actual "things" that have value.
As for other arguments I think author was trying to convey very complex subject in 30 minutes of video. Of course there will be certain generalizations so he can better convey the message.
- crimsonalucard 12y ago>Elon has specific role in "production". If his work/energy/decisions are going to spawn new factory, new technology or new product that is going to improve productivity of millions then by all means his income is justified by his productivity. A new technology, a new product, and improving the productivity of millions are not activities or goals that are achievable by any single individual. Elon must utilize additional human capital to achieve any of these goals. Thus there is a limit on how productive a human can be and in turn a limit on how much wealth he or she deserves. >This is not true. Emphasis on "all cases". If you create money at exactly the same rate as the economy's produce grows than money has it's background in actual "things" that have value. My bad, I meant most cases. Sorry.