Elon Musk: “The more people in a country that are engaged in producing…”

“The total output of goods and services will increase, and then the average standard of living will increase, increase. So that's. Yeah, I think the most important lesson in economics is simply common sense that The more people in a country that are engaged in producing useful products and services, the better off that country will be. Like you could run the sort of thought experiment to say in the limit, if we moved everyone in the car industry into the dmv, there would Be no cars, but there would be a lot of regulators.” (1:29:36–1:29:45)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.