Elon Musk: A Catalyst of Innovation and Controversy in the Realm of Capitalism

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Elon Musk and Capitalism
Elon Musk is an entrepreneur and holds the position Chief Executive Officer (CEO) to three companies, SpaceX, Tesla Inc., and Neuralink. He is the founder of SpaceX, which manufacture aerospace and is involved in space transport, and co-founder of Tesla Inc., that deals in the production of electric cars and solar panels, Neuralink, and PayPal.
The success that places Elon Must on the world’s map and among the wealthiest people on the planet can be attributed to his innovative ability and the environment provided by the free enterprise. The flexibility to determine the rules of supply and demand without government control enabled him to create some of the leading technology companies in the world. He has been directly involved in the founding of various business enterprises, selling some along the way which serves global markets especially PayPal. He has interests in manufacturing of space transport and electric cars, a function that without free enterprise would only apply to government funded and controlled operations. Therefore, the market structure has enabled Must to accomplish his goals and influence the field of technology, (Chun 9).
On the other hand, free enterprise has faced criticism in assumptions that the market structure provides ground for monopoly and greed aimed towards making a profit. Consequently, capitalism has influenced competition and given the wealthy an upper hand in controlling the market base.

This competitive advantage has led to inflation of prices of ordinarily affordable goods and excess inventory to companies without the financial capability to compete fairly (Westra et al. 190). However, competition exists in every form of business operations. Considering the case of Elon Musk, his ability to develop high technology products does not minimize the chances of other innovators to introduce more sophisticated gadgets but instead empower competitors to outwit his innovations.

Works Cited
Chun, Christian W. “Discourses of Capitalism.” The Discourses of Capitalism: Everyday Economists and the Production of Common Sense, Taylor and Francis, 2017, pp. 1-15.
Westra, Richard, et al. “Competitiveness or emancipation? Rethinking regulation and (counter-)hegemony in times of capitalist crisis.” The Future of Capitalism After the Financial Crisis: The Varieties of Capitalism Debate in the Age of Austerity, 2015, pp. 184-200.