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Notes and Reflections on Books and Media

by Hannah Leitheiser

You Can Make it from Nothing

#economics #book

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

George Gilder

2012

2019-05-01

"[These poor household's] net worth was zero because their debt exceeded their calculable worth. Yet some 80% of these people who were poor in 1969 escaped poverty within two years....Families of zero wealth Built America. Many of the unincorporated businesses that gained some 500 billion dollars in net value since World War II, six times more than all the biggest corporations combined, were started in households of 0 assets, according to the usual accounting. The image of a huge non-negotiable gap between poverty and wealth is a myth." - George Gilder, Wealth and Poverty: A New Edition for the Twenty-First Century (2012)