The American system is built on the assumption of sustained growth, but with technological breakthroughs like green energy, battery technology, and mRNA vaccines, there is potential for continued growth in the future.
The top 27 people in the world have more resources and wealth than the bottom 4 billion individuals on the planet, highlighting the growing asymmetrical accumulation of resources in society.
In this podcast, the speaker argues that as society becomes richer, more progressive programs can be funded through government share of the economy, and that the tech economy is creating economic opportunity for everyone. Additionally, with 11 million open jobs but only 4 million people looking for work, the idea that society is broken and people can't find employment is flawed.
The free enterprise system generates more wealth, prosperity, and national greatness, leading to a better economy and increased ability to fund the defense budget. However, some politicians believe they can run businesses better than those who own them.
California has become a state with only very rich and very poor residents, where the middle class has been moving out in droves. This has led to policies that hurt small businesses and created a resource curse for the state.
The middle class will likely be the biggest losers as the government tries to solve the current economic crisis by taking away assets from some and inflating all assets, while also monetizing debt and raising taxes.