Musk's Twitter takeover makes little business sense, but it has given the world's richest man a global megaphone and easy access to Trump's incoming second White House.
I’m no economist, but I think that in a kleptocracy, “profit” should not be measured in purely monetary terms, as if the economic game were independent of the political game. Agents do not simply maximize revenue over cost measured in dollars, but maximize “revenue” (including potential power influence) over “cost” (not just monetary losses but losses in power and influence).
I’m no economist, but I think that in a kleptocracy, “profit” should not be measured in purely monetary terms, as if the economic game were independent of the political game. Agents do not simply maximize revenue over cost measured in dollars, but maximize “revenue” (including potential power influence) over “cost” (not just monetary losses but losses in power and influence).
Sure, agreed, but that's a nonconventional way of thinking about profits and revenues.
And that’s why I dropped out of my economics program. I don’t know who they’re theorizing about but it’s not humans.