On “Anti-Billionaire B.S.” and The Monopoly on Violence

Musk, an epic entrepreneur himself, is on the frontline of the “something bad” that could happen. His concern is with asset and capital allocation to the most productive members and components of society. “If you think of assets beyond a certain level, then let’s say, somebody’s ability to consume, then what you’re doing is capital allocation.” The money quote: “It does not make sense to take the job of capital allocation away from people who have demonstrated great skill in capital allocation and give it to an entity that has demonstrated very poor skill in capital allocation, which is the government. You could think of the government essentially as a corporation. The government is simply the biggest corporation with a monopoly on violence. And where you have no recourse.”