Elon Musk and Jeff Bezos can’t realistically spend all the wealth they’ve created. That’s why both epitomize progress. It’s not just that they’ve transformed how we live, it’s that their inability to spend the abundant fruits of their commercial genius means that what they don’t spend will be continuously directed to entrepreneurs and businesses intent on vastly improving on the present.
It’s important to remember this as Cornell economics professor Eswar Prasad cast aspersions at the New York Times on the savings fruits of production in China. Prasad surely knows better.
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