Thingish Things

Wealth, Jobs Out of Thin Air

Written By: William F. B. O'Reilly - Feb• 03•12


Twenty-seven-year-old Facebook creator Mark Zuckerberg is about to be worth a cool $28 billion, according to estimates. His company will be valued in its IPO at between $75-$100 billion.  That’s great news all around.  It means that thousands of Americans will get jobs at the company, others will likely become enriched by investing their faith in those workers and their leadership, and Facebook will continue to improve its capacity and services, which did not exist a decade ago, to the benefit of almost a billion members.

This is a perfect example of what the Michael Moore’s of the world do not understand. Mr. Zuckerberg did not wrestle that $28 billion out of the hands of the poor in this country — although some bitter former colleagues argue he wrestled the idea for it out of theirs — he created that wealth out of thin air. He came up with an idea, executed it well, and added — added — wealth to the national GDP — and to  those working for or profiting from his invention. (One wonders how many people are “Facebooking” today about the injustice of Mr. Zuckerberg becoming so rich. )

Michael “there-is-only-so-much-money-out-there” Moore speaks about wealth as though it is finite.  Mark Zuckerberg, with his Facebook, concretely demonstrates the opposite — that wealth can be created from nothing, and that capitalism and entrepreneurialism, by their very nature, enrich everybody along the way. Great work, Mr. Zuckerberg.  We hope you double your haul in a year. 

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