Facebook and the $100 billion club

A look at the 41 global companies worth more than $US100 billion shows why the US is still chief global superpower, and why Facebook still has much to envy.

One of the most fundamental disagreements between the Left and Right on economic matters comes down to the question of letting private enterprise build wealth and using government taxes to distribute wealth. The extraordinary float of Facebook and the insolvency of Greece are two of the sharpest examples imaginable.

If Facebook was a 100 per cent Greek-owned concern, there would be no problems with the Greek economy because $US104 billion of instant wealth creation enormously expands the size of any pie.

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