FEE’s Brett Cooper writes, “Last year, in an episode of the Joe Rogan Experience, Elon Musk touched on the problem with printing money to paper over economic problems, stating, ‘this notion that you can just sort of send checks out to everybody and things will be fine is not true.’

“This notion that you can just sort of send checks out to everybody and things will be fine is not true.”

– @elonmusk, 2020https://t.co/IKIfM1mitD

— Jon Miltimore (@miltimore79) October 10, 2021

Continuing, Musk asserted that many wrongly believe that the economy is a ‘magic horn of plenty,’ where goods and services will simply appear, leading individuals to believe that they don’t need to work or contribute to production. When generous unemployment benefits are offered as well, this attitude becomes even more enticing.

Though the Biden administration has suspended the federal COVID relief, the damage was already done. People learned that they could make more money by relying on government funded initiatives than returning to their jobs. Meanwhile, many continue to collect unemployment benefits at the state level rather than return to work—as evidenced by the record number of job openings in the US.”

Read the entire column.

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