Ep. 474 What Does It Mean for Elon Musk to be Worth $749 billion?
Responding to the reaction over Elon Musk’s recent estimated net worth of some $749 billion, Bob analyzes the economics of financial markets in much greater depth than the critics.
Mentioned in the Episode and Other Links of Interest:
- A news item on Musk being worth $749 billion.
- The link for this episode’s sponsor, Monetary Metals.
- Help support the Bob Murphy Show.
About the author, Robert
Christian and economist, Chief Economist at infineo, and Senior Fellow with the Mises Institute.
Why do “MMT-ers” say that under laissez faire capitalism “the labor force is permanently below what it could [should?] be doing” (35:20). Who are they to say what others/society ought to be doing.
I’m actually supposed to debate an MMTer on their proposal for a federal job guarantee, where this stuff would come up. (The guy had to postpone for family reasons, I hope we do it in January.)
The entire point of non-Austrian economics is to tell other people what they should be doing. There is no other point to the existence of these schools of thought.