Musk is a crony capitalist this is for sure. He has taken full advantage of the crony system. He has benefited greatly from politicians throwing taxpayer money at him. But it seems that the PR people around Musk have had enough of him being called out. He is in fact (we are told) not a crony capitalist but an angel of the free market (even though he called himself a socialist) who has only made the world a better place.
The truth is Musk is a businessman who is operating within the system presented to him. He is a product of the crony capitalist economy. He exploits pools of taxpayer money, but there is no doubt he’s also done some good. People are rarely all good or all bad. We must remember however his tweet of a couple of months ago which brought the sanction of the SEC. Lots of people lost lots of money, in various ways, thanks to that now infamous tweet.
Musk, as we often say, is America’s favorite crony capitalist. There is a reason he still enjoys some good will despite his failings. He, like most prominent people is a mixed bag. He’s not a cartoon villian or superhero. And he’s certainly not above being criticized for engaging in crony capitalism.
(From The Washington Examiner)
He is, instead, close to the embodiment of what good capitalism and markets can do: Mainly, allow decent people to accumulate wealth and spend it on ethical and productive goals, all the while keeping the preservation of one’s environment as a goal of itself. This truly is unique and cannot be dismissed as anything other than highly beneficial.
The issue Mr. Sarkozy, is whose wealth is Musk accumulating for his purposes? If the state takes the wealth of taxpayers and then gives it to Musk that’s not “good capitalism.” That’s crony capitalism.