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That's a fascinating way you once said that you completely agree of Peter Thiel on the thesis that technology prop progress is not inevitable.
It's the product of human creativity which a lot of people would be surprised at.
And you said if creativity creativity didn't come as a surprise, we wouldn't need it in socialism would work.
Um, is this miss sometimes by people out there?
Well, I think it I think it iss um, you know, today Ah, a lot of people in Washington actually imagine that we can't compete with the Chinese economy, cause the Chinese subsidised a lot of their companies are the Chinese have top down rules and that Communist Party regulations that actually render them more potent competitors.
The fact is that, uh, that's the big vulnerability of China.
To the extent that the Communist Party really does interfere evermore deeply in their economy, they're the future of their, um, enterprise is heard.
And today the biggest threat is is the Communist Party is actually reaching down and forcing companies to fire their owner CEOs if they get uppity.
If they seem to emerges.
Two important figures like Jack Ma who the founder chief of Alibaba.
One of the great companies in world history is Alabama, which made a tremendous contribution to Chinese growth, and Jacquemod was is still pretty young man.
And he he's been.
He now works for some U.
N agency because, allegedly because Communist apparatchiks forced Ellie Bob's board to kick him out, and that's that's a really alarming development.
And there's several other leading business figures who have been forced out of their companies by political interference.
And I think it's It's a real danger to China, right?
So you need that creativity and the capitalism.
Capitalism has to be there because you must be rewarded with monetary gain for great ideas, so it can't be in a free system of global that will retarded and the socialism will retarded.
And the communism does because, like you said, those outliers, they get quieted so they won't get the innovation they really need.
You know, I think that's right.
I also think that it's important, crucial to my understanding of capitalism.
It is that capitalism is not primarily an incentive system.
It's not a scheme of carrots and sticks, rewards and punishments by which good behavior, profitable, behaviors rewarded and mistakes.
Air punished that that home model is a sort of mechanistic mystic model of the economy.
And, uh, I believe that capitalism is chiefly not an incentive system, but an information system, and that wealth is chiefly knowledge.
And you and you can see this if you realize that Neanderthal in his cave is Thomas Soul wrote decades ago, has all the resource is all the material resource is that we have today.
The difference between our edge and the Stone Age is not more.
Resource is it's more knowledge.
And, uh, if and that's that's what wealth really is.
And growth is learning, and its growth is the increase in knowledge.
And the rules of learning are really defined by the scientific method, uh, of Ventures Business ventures.
Every business venture is the entrepreneurial test of an idea.
And, uh, unless it can fail, it can't unless it's falsify a bubble.
In terms of the scientific method, it can't succeed either.
That's one of the problems with the Google strategy of depending entirely on these third parties, who by advertising it's ah, you, it's it.
You have to be able to fail when government trust to guarantee economic growth.
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CREATIVITY DRIVES GROWTH: How America Can Dominate The Chinese In This Department | George Gilder

1 Folder Collection
林宜悉 published on August 1, 2020
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