In an article about how far fewer people are buying Tesla cars and the subsequent decline of Tesla stock, the reporter quoted Tesla founder Elon Musk reassuring Wall Street analysts, “The inhibitor is affordability. It’s got nothing to do with desire.” Musk was explaining that all is okay because countless customers still desire Tesla cars, they just can’t afford them.
Well, that clear things up.
However, I’d like to add a few things to the wish list that I too desire, yet can’t afford. My husband and I would very much like to have homes in Jerusalem and a number of other Israeli cities. We’d also appreciate houses in a number of other places around the world including British Columbia. While we’re at it, if affordability is just a pesky side issue, let’s make some of these waterfront houses.
That is just for a start. Desire can be an endless master. The beauty of a price-based economy is that it helps people know what they can afford and helps keep them within their budgets. One of the reasons that the private sector runs more effectively than government is that it only provides things that people can afford as well as desire. Our skyrocketing national debt, as well as cities and states whose budgets don’t balance, is a result of offering citizens and employees things they want (in exchange for votes) without worrying about whether they are affordable. Mr. Musk’s company received this kind of hand-out from the Obama administration. It’s time for him to re-enter the world the rest of us inhabit.