Basically, by this I mean: What causes some people to be in poverty and others to be exceedingly rich? By poverty, I mean, as defined by Merrian-Websters dictionary: 1 a : the state of one who lacks a usual or socially acceptable amount of money or material possessions not "socially acceptable" can be defined as having much less then the average person. And by "Rich": 1 : having abundant possessions and especially material wealth Seeing as concern for the poor tends to be a big issue (morally) when it comes to economics, I'd figure that the answer to this question is pretty important. Obviously, "the poor" and "the rich" are not giant monoliths that all share the same characteristics, but what do you think the cause is behind the majority of them?
Genetics (really Nepotism) in the form that the best way to succeed in a particular field in the USA is to have a parent or relative already in that field to provide an "in". Luck certainly plays a role as does perserverance.
Neoliberalism suppresses the poor and working classes while rewarding the wealthy and stacking legislation in their favour.
First and mostly, it is a matter of education and environment. Next lies on the individual, their personal beliefs and values; how they feel about money and wealth. Next follows what effort is put into gaining or avoiding wealth or money and what to do with it once you have any amount of it. Lastly, if the individual has decided to accomplish or amass anything, the path to those goals can be helped or hindered by the environment they find themselves in and impacted by those other factors I just mentioned. You can start out with nothing and work your way up or you can start with everything and lose it all. You can rest in the middle for the entirety of your life. The individual has to decide for themselves and then act accordingly or else others will decide for them.
Really? No option for "a combination of factors dependent upon the circumstances"? I'm a die-hard Capitalist and that's what I believe. Define "wealth".
Maybe I should have worded it better. What is the biggest factor. By "wealth", I mean material possessions. I believe the same as you, BTW.
Since almost ALL of America's present day wealthy, made their wealth by the own accomplishments, NOT INHERITANCES, in their own working lifetimes. The obvious answer is their own ability and determination. The willingness to put out the effort and endure the sacrifices necessary to become wealthy. I know that in building my company there was never any employee that put in the thought, the work, the hours, the monetary investments, the dedication I did. Not one of ANY of those things. I outworked every employee. Some of the best worked nearly as hard and they are wealthy today. People think about 35 and 40 hour weeks and complain that they have no chance to be wealthy. They don't, THEY have locked themselves into failure. A 60 hour week was a short week, an 80 hour or more week was not uncommon. As a young man I was an avid, low handicap golfer. Iloved the game for the challenge and the exercise. In building my business I never swung or even touched a golf club for more than 20 years. No time. Have some with much more ability than I, had an easier time of it than I did? Of course, but they still had to put out the effort and have the ability and determination.
Only if you don't take into account what you need to get that wealth, I would think. That is, if you define Free will as being to completely decide who you are and what you want to be independent of any outside factors.
Most rich are rich because of hard work. Most poor are poor because of bad choices and lack of motivation.
Becoming wealthy is easy but most refuse to try. Most refuse to make the sacrifices it takes to become wealthy. Do well in school. This isnt easy for most because most dont care. Parental involvement is non existent in most cases of failed kids. This is a free will issue. Getting funding for college is not difficult. A college degree in an in demand field isnt difficult. It takes hard work and discipline. This is lacking in many of the youth. Many are lazy and spoiled. Billions of unclaimed scholarship monies go unclaimed every year. This is free will as well. Get a job. Again this is free will. Many in demand jobs cant be filled because the idiots in college want to get a degree in liberal arts or other ridiculous program. Womens studies for example. Its a waste. Saw a news story the other day about this. Companies have openings but cant find people with the proper skills. Skills are learned not genetic. Again free will. Learn to save. Live with in your means. Dont do credit cards. Live like no one else so that one day you can live like no one else. Dont spoil your kids out of guilt. Drive used cars that are paid for. Dont do debt. Get a home that is reasonable. DOnt keep up with the joneses. Pay it off in 15 years. Save. People can retire wealthy if they learn to save and invest wisely. The problem is everyone wants it now. Immediate gratification the norm in the US. Its why we are in the situation we are in. Saving used to be the norm now spending is. Learn to do without until you can pay cash for it. Again this is free will. It takes sacrifice and discipline to build wealth. These 2 characteristics are lacking in 99% of americans. Its pathetic to say you cant succeed or build wealth.
I appreciate you say 'most' instead of blanket statements like some others here do. I believe that in this country, you can make or break yourself for the most part but I do also believe that some people have things happen in their lifes that they have no control over; catastrophic illness or accidents, divorce used to be much worse on women (thinking of older women who never had a job outside the home), etc... but for the most part, if you have enough time, you can recover from those downturns.
There is no single answer to this. Every rich person has a different story. Most have reasons that are a combination of the factors listed.
Certainly not luck. To say that a poor person is unlucky is to say that a rich person is lucky. A poor person is poor because of bad choices and/or laziness; a rich person is rich because of hard work and success. Look at Steve Jobs. He could not ever afford college, so he convinced the dean of his college to allow him to attend for free. If that wasn't hard work just to get through college, then surely building up the most iconic American Tech company of this decade was. I see no luck in his story; if anything it was bad luck that he died of cancer.
The only thing you need to manufacture wealth(it it can ONLY be manufactured, not stolen, exchanged, given away, or transferred) is your mind, and you will always have that. Paul Graham wrote a good essay on the subject.
