Over on his Substack, Paul Krugman makes the case for Elon Musk being a Ponzi Scheme. He says: “We have a term for enterprises that look successful because they keep drawing in new investors and keep drawing in new investors because they look successful. They’re called Ponzi schemes. And Elon Musk is basically a human Ponzi scheme.”

I don’t know. Musk is many bad things, but I think he is more than a Ponzi scheme, based on this entry in Wikipedia. Now Bernie Madoff: his enterprise was a Ponzi scheme. But I think there is still some substance behind the enterprises that Musk is running.

Paul Krugman obviously know economics, but I think he is stretching things to insult Musk. Check out these linked pieces and decide for yourself.

P.S. Elon Musk and his companies may not be a Ponzi scheme, but this piece in Techdirt makes the case for how they are a scam, in particular SpaceX.

(Image of Charles Ponzi from Wikipedia)