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Our job in higher ed isn’t to identify a top 1 percent of people who are freakishly remarkable or who have rich parents, and turn them into a super class of billionaires. It’s to give the bottom 90 a chance to be in the top 10.
—Scott Galloway
Since practical ability differs from person to person, the majority of such abilities, in nearly all societies, is gathered in a minority of men. The concentration of wealth is a natural result of this concentration of ability, and regularly recurs in history. The rate of concentration varies (other factors being equal) with the economic freedom
... See moreWill Durant • The Lessons of History
Very rarely does a person accumulate wealth without acquiring social skills.
Rabbi Daniel Lapin • Thou Shall Prosper: Ten Commandments for Making Money
David Brooks • How the Ivy League Broke America
George Stigler, a thirty-five-year-old economist at the University of Minnesota. Inflation had diluted the 40-cent minimum wage, and people were calling for an increase to 60 or even 75 cents an hour, which translates to $9.51 and $11.88 in June 2022 dollars. “Economists have not been very outspoken on this type of legislation,” Stigler wrote. “It
... See moreMatthew Desmond • Poverty, by America
“Innovism,” a term that U.S. economic historian Deirdre McCloskey prefers to the somewhat misleading and pejorative “capitalism,” denotes a process of material enrichment based on innovation and trade, or “trade-tested betterment” (another term she coined).
Marian L. Tupy • Superabundance: The Story of Population Growth, Innovation, and Human Flourishing on an Infinitely Bountiful Planet
It seemed really natural to give more funding to people who could do more with it and to find great deals for people who had money but didn’t have differentiated or interesting portfolios.
Arlan Hamilton • It's About Damn Time: How to Turn Being Underestimated into Your Greatest Advantage
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