Gates speaks wistfully of a world in which companies would pursue profits while “improving the lives for those who don’t fully benefit from market forces.” But it’s there that he most impressively contradicts himself. There are parts of the world, particularly sub-Saharan Africa, that owing to a non-embrace of market forces have according to Clark produced “among the lowest material living standards ever experienced.”
Simply put, it’s a lack of market forces that has produced the poverty and ill-health that so vexes Gates. No doubt he would agree to a point, but in seeking a form of “soft” capitalism, he would to some degree retard the ruthless process whereby capitalism rewards those fulfilling individual needs, all the while punishing those that don’t.
Friday, January 25, 2008
Bill Gates knows how to make money, but...
Former student John Tamny takes issue with his "kind" capitalism:
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Gates' entire fortune comes from the lack of market forces: namely, the state-enforced monopoly known as "intellectual property" [sic].
ReplyDeleteThe same is true, more generally, of Third World poverty: it's caused by the state's intervention in the market on behalf of privileged transnational corporations. In a genuine free market, several hundred million more peasants would still be living on the land that was stolen from them by latifundistas and other landed oligarchs in collusion with Western agribusiness interests, and the removal of subsidies to long-distance trade and export production would mean lots more people in both the West and TW would be buying stuff produced in smaller, more efficient factories producing for local markets.
Genius like him don’t just make money, they make fortune. I believe we need to learn so much from him in so many departments. I always keep one thing in mind that we need to work out good plans and follow them strictly, as that is how we will get rewards. I trade with OctaFX broker and with their support I am able to do all that easily with 50% bonus on deposit which is completely trade able and helps me big time.
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