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Notes and Reflections on Books and Media

by Hannah Leitheiser

The Purpose of the Wealthy

#economics #book #capitalism

Wealth and Poverty: A New Edition for the Twenty-First Century

George Gilder

2012

2019-05-01

"It is only individuals who can be original. Institutions shy away from unproven or unfashionable ideas...In America, the rich should not be compared to the sultan of the Arabias or be seen in the image of Midas, in his barred cage of gold. The American Rich hold not only riches but also wealth...under capitalism, when it is working, the rich have the anti-Midas Touch, transforming timorous liquidity and unused savings into factories and office towers, farms and laboratories, orchestras and museums; turning gold into goods and jobs. That is the function of the rich -- fostering opportunities for the classes below them in the continuing drama of the creation of wealth and progress." - George Gilder, Wealth and Poverty: A New Edition for the Twenty-First Century (2012)