Democratic candidates are all saying they love jobs and opportunity, but with forked tongues. Out of the mouth’s other side, they’re saying opportunity will somehow be abundant in concert with the confiscation of wealth held by business owners. It can’t be.
Keynesians believe government spending powers growth. No, it’s a consequence of it. Monetarists believe money creation powers economic growth. No, it’s a consequence of it. There are billions of dollars circulating in El Salador because some of the fruits of production that takes place in the U.S. are shifted down to El Salvador.
Though Mumme is as far from the NFL professionally, his vision isn’t. The offense he created is increasingly all the rage in the NFL as teams seek to emulate the success of Air Raid disciple teams like the Kansas City Chiefs, and the development of their star quarterback, Patrick Mahomes.
Great minds produced Botox, and in the process created an industry while bringing life to a town neighbored by others not doing so well. Simply put, humans drive progress.
Thanks to Facebook, more and more businesses will have an idea not just of what billions want and need, but they’ll also be able to more expertly target small groups and individuals based on data mined about them. Businesses will understand us better, and thus they’ll be able to meet our needs much better.
The whine about the wealth of the billionaire class “impoverishing millions of blue collar workers” is a total falsehood. If the common man were impoverished by the billionaires, there would be no billionaires. The shares of Microsoft, Amazon, Apple and Facebook would be in freefall to reflect the rising impoverishment of their customers and users. The common man is not only not impoverished, but is actually doing very well.
One very unequal man transformed a town and a university in ways that will pay handsome dividends for a very long time for hundreds of thousands of people. Isaac Newton surely had people like Swinney in mind when he made his “standing on the shoulders of giants” remark.
Barra gets it backwards. If she wants the “United States” to “lead this transformation” of passenger cars, she should be calling for the “United States” to step aside so that individuals backed by profit-hungry investors can place countless bets on the future of transportation.
Crucial about this is that the entrepreneurs who get the future right will grow stunningly rich for being right – and making life better and more convenient for the rest of us. Life is cruel when the talented aren’t getting rich.
Technological advances in automating work are not going to put everyone on the dole. If they were to do so, there’d be nothing in it for tech entrepreneurs.
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