The process of making money is the best education for making more money, our society’s wealth can grow only if the people who create it control it. Divorce the financial profits from the learning process and the economy stagnates.
Although many of today’s entrepreneurs are too busy to notice, they are indeed performing a near miracle of personal wealth creation. Most started their companies only a few years ago on relatively meager capital. Now, zapping their companies with police radar as they zoom by at a growth rate of some 50% per year, we can guess that dozens of those entrepreneurs command a net worth of scores of millions.
Soon they will be knocking on the doors of truly supreme wealth… like their predecessors Bill Gates of Microsoft, Larry Ellison of Oracle, Steve Jobs of Apple and Mark Zuckerberg of Facebook among others.
In sharp contrast, many American intellectuals today think there ought to be a law against such a reckless rags to riches. Tax it away, they say, and give it to people who need it more. Capitalism, it is widely believed, would work better without all these superrich capitalists.
Read More: The American Dream
Ziad K Abdelnour