Man seriously are you kidding us? Take Jeff Bezos, Zuckerberg, Trump and countless other names. Simply, billionaires and in fact anyone who has employees, extracts value from their work to make profits. Thats the cause he invests. If he didn't collect profits there is no reason to built a company or else. Thats the stracture of capitalism. And this is the basic problem of the mathematics of capitalism. The value of the wealth produced, is being haircutted and stored in billionaires pockets, then they reinvest a fracture of. This creates a death spiral that "economists" trying to solve with magic tricks like
borrowing matter from the future. Such metaphysical nosense. This is the laughable system you are fan of. Lets get one step further. If PRC hadn't induced strict regulations in the stock market, we would probably face the same situation with Wall Street, were billionaires getting richer and richer in a stagnating economy, without investing a cent in the economy. Who wants to have the anxieties and struggle of managing a huge company to make profits while you can sit in you luxury villa and enjoy profits from stocks? Thats why financial capitalism prevailed to industrial. It's more easier...way to steal wealth from workers
. You can also observe that PRC rules forbids storing money out of the country. And at BRI involves SOE's. You are smart, you can figure out why; Capital has not a motherland. It goes were the profit is. So be careful of your wishes if you don't want PRC smashing down into pieces like USSR. An other worrying fact is that 1/3 of the private bussiness owners in PRC are members of CPC. This indicates two contradictionary things. Either is a new, high level of democracy occuring in PRC or, the system is rotting from inside. Let's wait and see
There is a role for the state. It is important and necessary. We see the issues America is in today, completely neutered from using it’s wealth and power to stand up to China even when its trying its best, and it emboldens us to know we were right all along. The state shall always hold the nations’ future in trust for us all. Not American billionaires. Not Jewish lobbyists. Not Arab oil sheikhs. Not woke globohomos.
But be wary of complacency. There is also a role for the entrepreneur, the innovator, the creator of wealth through the invention of technology that never existed before they thought it into existence. And what way to incentivize him then to tell him he is allowed to be rewarded for
his creation.
Greed may not be good, but it’s in our genes. We are animals chasing our gain even if it comes at the disadvantage of others. No religion nor philosophy, Taoist or Christian, Confucian or Hindu, Islamist or Buddhist, can veil our eyes from this truth.
Allowing us to unleash our primitive desire, to chase wealth and power and women, and all the glory and adoration that may come with it, gives us our
main motivation to take massive financial and personal risk.
And sometimes those financial and personal risks taken upon by an individual,
at no cost to the state or its people, give you an Edison or a Bill Gates or a Jeff Bezos, and with them their reward: tens or even hundreds of billions of dollars, that surely could do more to alleviate suffering in the hands of the poor and the sick, since at some point even those men begin to grow old, and bored, and hoard their wealth or change their interests. But what happens when you confiscate their wealth? When you tell people their reward for risking livelihood and reputation is simply the gratitude of a grateful nation? Perhaps at best a limited return on investment that has been prejudged and approved by some bureaucrat? And your invention or your creation is no longer yours to control? Or it’s wealth is no longer yours to use? Not for you or your family. Or for use in the ultimate idea you set out to put into reality, which you thought about from the first days of wondrous innocence in your garage or your classroom.
No, you take away a mans primary motivation for success; power, money, fame, women, validation... and there is no longer that incentive to risk life and limb for what is ultimately the greatest source of innovation, technological advancement, and wealth creation in human history.
Sure, there will still be some who risk bankruptcy for the belief that they are creating happiness for others, their nation, or their species, or their religion, even at no reward to themselves. How many though? How many people do you really think will be left to take the crazy risks the state dare not and cannot take on behalf of the people?
Maybe you really believe people like Elon Musk would have still be around doing what they did, sleeping on their friends couch because they couldn’t afford to pay the rent since all their money was in a silly ass rocket and electric car company that no one respected; that they’d still take risks like that, literally risking being
homeless, even with the knowledge that the best reward that could be hoped for would be gratitude, or your money doubled, or maybe a thank you note from his local government agency.
But I disagree. I don’t think you’ll have people creating the kinds of technologies that have been produced in the capitalist world in your new Utopian Communist state. World history is littered with these experiments. They all went poorly. But of course we are always told, those experiments don’t count. The Soviet Union will do it better. Cuba will do it better. Now, China will do it better. It’s a dangerous path. Afghanistan isn’t the graveyard of empires. Communism is. There’s a reason the CCP only gives token appreciation to the policies of those regimes or its own early history. It knows just as much as any learned man that what I’ve said is true. If it didn’t, there wouldn’t be so many billionaires in China right now allowed to flourish - there’s at at least as many billionaires in China as in the US! It could easily seize all of their funds right now, today, if it wanted to. Yet the CCP does not. They know.