Earlier quoted context omitted.
> And where did Musk's money come from? No body (?) is contending that in a free market wealth is not created. The contention is that when wealth is created it tends to head to other wealth. When a bank lends capital and has a choice of lending to, say, Elon Musk or me, I think the bank will make that rational choice and lend to Elon. Thus once you have some wealth attracting more wealth is less difficult than from b…
The "Boots theory" of economics is garbage, just utter nonsense. I don't understand why people keep mentioning it here without applying any critical thinking. It simply doesn't apply to the vast majority of actual consumer products. Some of most durable, longest-lasting footwear I ever bought was also among the cheapest. By contrast the expensive stuff tends to be fussy, fragile, and impossible to repair. This genera…
That is the exact opposite of my (and Cpt. Vines) experience