In a Crisis, the Most Innovative Entrepreneurs Make the Most Money. That’s a Good Thing.

by Peter G. Klein

Quick, what do Amazon, Gilead, and Netflix have in common? Obvious answer: they are getting valuable, even lifesaving, goods to people stuck in their homes; working hard to develop treatments and cures for the new strain of coronavirus; and helping relieve the tedium of government-enforced lockdowns. What a privilege to live in a mostly capitalist society, in which the pursuit of profit, rather than government directive, leads entrepreneurs, inventors, workers, and investors to move resources to higher-valued uses.

If you’re Berkeley economist and Bernie Sanders advisor Gabriel Zucman, the answer is different: they’re making too much money.

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