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The Power of Tech, Freedom, and Finance 🦅
Did you know that the concept of paper money was first introduced by the Tang dynasty in China during the 7th century?
Equity Eats
February 27, 2024
The Power of Tech, Freedom, and Finance 🦅
Did you know that the concept of paper money was first introduced by the Tang dynasty in China during the 7th century?
This innovation highlights how a seemingly small change can revolutionize an entire economic system, even if it doesn’t catch on at first.
In this newsletter, we present three insightful articles:
The Mighty Magnificent 7: First, we’ll highlight the dominance of U.S. tech giants, whose combined market power could rival the world's largest stock exchanges 💪
The Blindness Of Putin’s Apologists: Next, we’ll contrast the values of freedom with the harsh realities of authoritarian regimes, reminding us how precious liberty is 😵
Authoritarianism Versus Democratic Performance: Finally, we’ll compare the economic outcomes of different governance models, emphasizing the link between freedom and prosperity 💰
Dive into these analyses to explore how technology, governance, and economic performance are connected, and to gain perspective on the factors that shape our world.
The Mighty Magnificent 7 💪
The so-called “Magnificent 7” U.S. tech behemoths encompass Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla.
The Magnificent 7′s combined market cap alone would make it the second-largest country stock exchange in the world, after the United States 🖥️
The meteoric rise in the profits and market capitalizations of the Magnificent 7 U.S. tech behemoths outstrip those of all listed companies in almost every G20 country, the bank said in a research note Tuesday.
Of the non-U.S. G20 countries, only China and Japan (and the latter, only just) have greater profits when their listed companies are combined 🤯
The Blindness Of Putin’s Apologists 😵
There are those who seem to think that our government is no better or even worse than Putin’s authoritarianism in Russia.
The death in prison of opposition leader Alexei Navalny is a brutal reminder that jailing political opponents is inhumane and a violation of every principle of a free society.
No matter how discontented people may be with our US president, if you can’t see the difference between Putin’s Russia and the United States, you have to think more objectively about the circumstances in Russia and the US ☠️
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Authoritarianism Versus Democratic Performance 💰
Those who have recently become enamored with Putin’s Russia not only fail to comprehend what it means to live in a society without freedom to express oneself, but also the economic cost authoritarian regimes impose on society.
The average income per person in Russia is about $12k per year 🐻💲
Those who think China is an economic success story will be disappointed to learn that there too, the average income per person is no higher 🐉💲
Compare that to the United States where we enjoy economic and political freedom—the average income is $75k per person 🦅💲💲💲💲💲💲
To those who are so impressed with Putin, maybe consider investing in their stock market… good luck with that.
