Book Summary: Dr. Thomas J. Stanley wrote ‘The Millionaire Next Door’ after doing extensive research in gathering statistics and case studies of today’s millionaires in America. He immediately addresses the culture’s false view of a millionaire. There is a great difference in being rich and being wealthy in today’s society. The research Dr. Stanly has done gives seven common denominators among those who have successfully accumulated large amounts of wealth. The statement that outlines the course of the book is “sacrifice high consumption today for financial independence tomorrow.” Application: After reading this book, I now have a different outlook on how to be successful with my finances.
Guilt, fear, many things can turn a rich person into a reformer or a proponent of social change. But what turns him into a bomb thrower, a political terrorist? In the case of our rich revolutionaries, it may also be their money and their upper class origins. They are young people who grew up accustomed to being obeyed, to having their own way. This is not your permissive psychology stuff; this is the expectation of people doing what you tell them to do because all your life you’ve had the money to command.
Wealth and Poverty, written by George Gilder, is a depiction on how to increase wealth and curtail poverty. Gilder argues thoroughly throughout the book that society has been misled by popular economic theory and by general culture attitudes into only having a small percentage of wealthy people and having the majority of people in society living in poverty. He documents the ways in which the blighting of incentive has crippled productivity in society and shows how the essence of capitalism is not greed but giving by investing money and energy. Gilder states that the “golden rule” of economics is the idea that the good fortune of others is also finally ones own. The scientific basis of the golden rule is in the mutuality of gains from trade, in the demand, generated by the engines of supply, in the expanded opportunity created by growth, in the usual and still growing economic futility of war (Gilder, 9).
Augustus seems to rule with his wealth and influence over the people, and those in government positions. In my opinion he is more focused on keeping the Aristocracy happy, for as according to Crone in her examination of pre-industrial societies, the holders of wealth are the key to maintaining leadership and order. Michael Haukaas made an excellent statement as well saying “Himself being wealthy is not enough, as evidence by the war following the death of his father at the hands of Brutus et all”. This statement shows how Augustus also had control over the soldiers as well as the power of his wealth. Just like the podcasts mentioned, Augustus was a powerful man due to his financial stability and the fact that he had made a lot of loyal and close friends with the men of elite
He sought to create opportunities for others instead of simply giving it to them the easy way. Instead of individuals getting a more money so they can spend more how about give them chances to want to learn and earn the money they desire for themselves. If you want something in life you have to go out and get it, no one will give it to you for free. Carnegie was the term for a notion promoted by many successful businessmen that their massive wealth was a social benefit for all. Carnegie believed it was better to benefit mankind then just individual’s needs.
The “American Dream” is built upon the idea of expanding one’s own ability due to the opportunities provided through having a democratic government and capitalist economy. Essentially though, there is no freedom among people that determines their success because ideas and materials which may attribute to prosperity are only in result of supply and demand. Representatives are put into power because they supply people with the notions which they demand, and businesses succeed due to supplying a service people which they demand. An individual can only succeed by having an extraordinary idea which grants people with something they were not aware of their want for. Although occupation is seemingly a person’s own choice, “we, the proletariat, don’t have the means to make our own living as we like, to create the society we’d like to live in.
The constitution has led Americans to success, but Pierce informs his audience that there are “three Great Premises of Idiot America” that are controlling Americans today. The first great premise is that “any theory is valid if it sells books, soaks up ratings, or otherwise moves units.” Money has been the focal point for Americans for a long time and base success off of it. This idea of money has put things on pedestals because of the money they have been able to produce. This premise might seem a little absurd, but there are many examples that make it valid. Many examples come from the entertainment side where if a movie makes a lot in the box office then it is a good movie, if a book gets off the shelves quickly then it is a good book, or if an album gets sales then it is a good album.
As time progresses, we notice that monetary value has become a main concept in American societies. But should money be the center of our lives? Americans’ admiration for wealth has locked them in a closet of luxury and, as a result, blinded them from their morals and other values in life. In his book, Money and Class in America, Lewis Lapham states that Americans are driven by money and envision it as “the currency of the soul.” Unfortunately, we Americans do validate Lapham's statement by allowing our money to show our success and happiness, therefore granting the rights to show out ignorance. Because of our love for monetary means, Americans tend to flaunt their wealth to quite an extreme, which further proves that we have been “deflected by the pursuit of money,” according to
He is also a very wealthy and powerful man who comes to his money by bootlegging. We know in the novel that jay swell is in the business and that is how the relationship was formed. Jay models Meyers life buy attempting to become successful in the same way as him. Also, Jay relies on Meyer to even buy his clothes, therefor being able to have the proper attire to seem like a successful wealthy man. Buy not only mimicking meyer wolfsheims fashion of gaining money, but also his style in articles of clothing, Jay is assuring himself that he can attain the same position of wealth and power.
The problem with this scheme is that it works by stifling innovation and competition. The wealthy stay wealthy by extracting value instead of creating it. The more value they extract, the more laws they write protecting the rights and privileges of the extractors. As companies like General Electric realized, it was better to sell off productive assets and become more like a bank. The system was created for people who have money to make money.