It is, of course, true as Obama said, that you didn’t build that. No one does in fact produce nor create wealth entirely on their own. And yet the production of wealth is still a difficult thing to do. Most to near all who try it fail to do so. Which is the argument against excessive taxation of the creation of wealth.
Our example today is the VestiVille festival in Belgium. It closed on opening day:
British festival-goers have said they are “devastated” after arriving at a music festival in Belgium to find out it had been cancelled. VestiVille was due to take place in Lommel this weekend, but the mayor of the city told the BBC he shut it down because of safety issues.
Well, there’s still beer to be drunk and that statue to Donald Trump’s pee pee tape to go see in Brussels. But as to why it was closed down:
Belgium music festival VestiVille has been cancelled before it had even begun, prompting rapper A$AP Rocky to criticise the event’s ‘security and infrastructure’. It’s now earned comparisons to the notoriously shambolic Fyre Fest.
Well, yes, there is that Fyre Fest to compare it to.
The festival, which was meant to take place this weekend (June 28 – 30) in Kristal Park, Lommel, boasted a lineup that included names such as Cardi B, Future, Jason Derulo, Migos, Meek Mill, Ja Rule and Ashanti, and many more. However, it was cancelled on opening day following a safety concern brought to light by rapper A$AP Rocky. “I won’t be performing today due to security and infrastructure concerns which relate to the production of the show,” Rocky said in a statement. “The promoters told me it would be handled but unfortunately for you and me they didn’t.”
Well, they seem to have got a little further than Fyre did, in that acts were in fact turning up but still, this does rather show that it can be difficult to get a new adventure up off the ground.
Videos posted on Twitter show an elaborate stage apparently ready for the three-day event on a campsite in Lommel, in Belgium’s Flemish region.
Yes, they did get further than Fyre by actually having a stage.
But to our major point here. Doing something new is difficult. Many things can go wrong – an almost infinite number of them in fact. As with Tolstoy’s each family is unhappy in its own way. Which is why we do allow people who get it right – whether through luck or skill – to keep goodly chunks of that value created. Simply to encourage the next bunch of likely failures to still have a go.
It’s also the distributed nature of capital raising which produces the glories of the capitalist system:
Glastonbury doesn’t really try to make a profit, only not to make a loss and thus makes substantial charitable donations. But they are aware of the unavoidable truth that to get something up off the ground you need capital. Our problem with most new adventures is that the people who want to be part of it don’t have the capital to make it happen. Which is where the failure of a socialist system becomes apparent. For there is no possible squaring of this circle.
Oh, of course, the State can hand out the capital but that will only lead to those things which please politicians gaining the necessary funding. What we would miss there is the great exploration system of possibilities which is the market allocation of capital from capitalists. Which state would have financed a student at Harvard to make Facebook? Indeed, which would have financed Bill Gates to rewrite MS DOS?
It takes the risk of significant funds to get a new adventure started and the risk of those funds is what capitalists provide in a capitalist system. This is true of networks for cat pictures and our ability to get hippies dancing in fields. It’s worth noting that no socialist system ever did develop festivals with music anyone other than the politicians wanted to listen to.
There’s something for the woke snowflakes to think about. It’s capitalism that brings them the summer music festivals they use to take drugs at.