Neev - Week 9 - Should Money Mean Power?
The rich govern the poor, that’s how our world has always been spinning, is it not? In our capitalist society, where money talks, having incredible wealth translates to having incredible influence and power over an incredible amount of people. 
Elon Musk and Donald Trump's "bromance"
However, this has led me to wonder if this direct power stemming from wealth is actually a good thing for the rest of us. Unsurprisingly, many of the ultra-wealthy individuals who have enough money to control the world around them built their financial empires in fields and industries that are completely unrelated to being a leader or guiding masses of people through society. For example, Elon Musk — especially following Trump’s election — has gained a significant amount of social, cultural, and political power because of his immense fortune and the powerful friends he made because of it. But slow down there, where did Elon get this fortune from? Didn’t he get it from PayPal, an online payment system he created, or did he get it from Tesla, the innovative electric car company he brought forward, or wait, he must have got it from SpaceX, the literal space exploration company that’s competing with the likes of NASA? As impressive as all his feats and corporations are, do they really warrant him the power to be a growing force in the US government? Should we really be letting a guy who knows at least a hundred times more about how to engineer a rocket to Mars than he does about being an average American living in today’s world be the guy rubbing shoulders with and influencing our president?
I believe we shouldn’t. Wealth should not equate to power, simply off the Spiderman logic: “With great power comes great responsibility,” and only those who are qualified enough to fulfill that responsibility of leadership and guidance should gain that great power.
I think Musk's influence is good to a certain extent. Companies like Tesla and SpaceX need government subsidies and reduced regulation (economic policies supported by the Republican Party) in order to make technological advancements. Because Musk knows what the aerospace, solar, and electric-car industries need in order to grow and expand, he can influence government policy to benefit companies in these industries. This will hopefully allow the solar and electric vehicle industries to expand, making the U.S. more energy independent and environmentally cleaner.
ReplyDeleteSimilar laissez-faire economic policies helped U.S. industries in the past. In the Gilded Age, loose government regulation allowed the oil, railroad, and steel industries to expand, promoting technological growth and development. Rockefeller and Carnegie may have had anti-competitive business practices, but they nevertheless made major technological breakthroughs that helped the U.S. industrialize. Similarly, the centralization of the railroad companies made the rail lines more organized and efficient. These industries developed faster because of loose government regulation; likewise, we can hope that the solar and electric vehicle industries will grow more in the next administration.
I'm not saying that Elon will have an overall positive impact on U.S. domestic policy, just that there's some benefits.
Sidenote: Musk founded x.com, not Paypal. While x.com later merged with another company Confinity to form Paypal, Elon was ousted as CEO less than a year after the merger.
Hello Neev! I loved reading your blog this week and I most definitely agree. It has always been baffling to me how wealth has been a deciding factor in who wields power in our country. As we continue to assess the qualities that make strong leaders during the buildup to senior year, I have come to realize that the essence of power and leadership comes from a place of deep understanding and trust between both parties. At the end of the day, we are going to follow the judgement of people who make decisions keeping the perspective of millions in mind and these are usually the people that can empathize with working class struggle. I loved how you included a little dose of “Spiderman logic” as this quote always reminds me that the type of leader a person is not decided by surface level, but rather the person that they are inside and how they apply their experiences to a diverse group of people. Those that know empathy and struggle are those that carry themselves with confidence and perspective that should be considered in future generations of world powers.
ReplyDeleteHey Neev! You bring up great points about the way wealth works in America. I also agree that having wealth shouldn’t equal having power. It’s crazy how money can change people in positions of influence, causing them to become greedy and money-hungry. Like you said, just because someone is specialized in engineering and runs a successful business, doesn’t mean they should be playing a role in politics and how society runs. When someone has that much power, it can be dangerous as they may not have the morals or beliefs that the public agrees with. So I can see where you’re coming from when you warn about trusting public figures who already have the financial means to “control the world,” as they tend to want what’s best for themselves and not others under them. It’s definitely important to remember that having money does not make one eligible to lead with total power.
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