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Wealth and Poverty: A New Edition for the Twenty-First Century, by George Gilder
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From the Inside Flap
Capitalism EnduresWhen George Gilder first published Wealth & Poverty in 1981, the book was an instant classic, becoming the economics bible of the unfolding Reagan revolution. “Not since the Gilded Age of the late 1800’s has anyone advanced so enthusiastic an endorsement of capitalism and capitalists,” observed the New York Times.Now, amid the Obama administration’s redistributionist zeal, industrial planning schemes, vandalistic energy policies, demonization of wealth-creating entrepreneurs, and Keynesian spending programs, Gilder returns to the fray with an updated edition of his famous tome.Thirty years after his paean to free enterprise shocked the Washington establishment, have the collapse of Enron, the economic meltdown of 2008, the advent of the Occupy Wall Street movement, and other events caused Gilder to reassess his devotion to capitalism? In a way, they have. As Gilder states in this edition, “It is clear that we, the original supply siders, bear some responsibility for the failure to persuade. All these years later, it has become clear that we were not radical enough.” Dissatisfied with half-hearted defenses of capitalism as the least bad system available, Wealth & Poverty passionately extols the morality, compassion, and efficacy of free enterprise. Buoyed by the collapse of communism but disturbed by the return of socialism under new guises, Gilder argues in a new prologue and epilogue that the solution to America’s current economic troubles cannot be found in warmed-over socialism, but in the generosity and economic vitality that can only be unleashed by the free market.As President Obama’s policies lend Gilder’s arguments a shocking new relevancy, Gilder reminds us why the New Yorker called him a “scourge of feminists, unrepentant supply-sider, and now…a technology prophet.” Featuring a new foreword by Steve Forbes, this edition of Wealth & Poverty informs us that free enterprise is the core of freedom—and that nations which forget or ignore that historical lesson will not and cannot prosper.
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From the Back Cover
From the New PrologueThe United States over the last decade has witnessed a classic confrontation between the forces of entrepreneurial capitalism and those of established institutions claiming a higher virtue, expertise, and political standing. One side subsists on unforced profits of enterprise; the other on rents and tolls and privileges at the Treasury, the Federal Reserve, and the White House.&hellp;The wealth of America is not an inventory of goods; it is an organic living entity, a fragile pulsing fabric of ideas, expectations, loyalties, moral commitments, and visions. To vivisect it for redistribution is to kill it. As President MitterandÂ’s French technocrats discovered in the 1980s, and President ObamaÂ’s quixotic American ecocrats are discovering today, government managers of complex systems of wealth soon find they are administering an industrial corpse, a socialized Solyndra.
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Product details
Hardcover: 256 pages
Publisher: Regnery Publishing; New, Revised edition (August 21, 2012)
Language: English
ISBN-10: 9781596988095
ISBN-13: 978-1596988095
ASIN: 1596988096
Product Dimensions:
6 x 1.6 x 9 inches
Shipping Weight: 1.6 pounds (View shipping rates and policies)
Average Customer Review:
4.1 out of 5 stars
55 customer reviews
Amazon Best Sellers Rank:
#157,656 in Books (See Top 100 in Books)
"WEALTH AND POVERTY" was first published in 1981, which sold more than one million copies, an instant classic and one of the most famous economic books of all time. This is the updated version by George F.Gilder as he presents America's current economic challenges with past economic problems, explaining why Obama's big-government policies are doing more harm than good for the poor. The author offers solutions to America's current economic problems and hope for the future, revealing an excellent endorsement of capitalism. Gilder explains that free enterprise is the core of freedom, and nations that ignore this lesson cannot prosper. In conclusion, the answer to decreasing poverty and increasing prosperity is supply-side economics and free market policies. Informative, Concise, Comprehensive, and Highly Recommended for all Americans!
Not an easy read, but could be the most important book about America in many years. Gilder challenges government welfare programs are destroying the family structure of recipients, assuring continuation of poverty and lost work ethic for generations to follow! He further exposes that confiscatory tax rates against entrepreneurs destroys work incentive and future business investment, thereby assuring economic malaise. Further, high tax rates helps to assure the wealthy will move their fortunes to offshore locations where tax rates are low.The wealthy also invest in places to assure that their fortunes will not be destroyed by government efforts to create inflation in order to reduce the real cost of deficit spending. I personally note that Ted Turner, founder of Turner Broadcasting (now CNN) invested his money in property, and owns motre than 2 million acres of land! Similarly, Jeff Bezos very recently purchased 250,000 acres of land.
If you are an entrepreneur, own your own business or aspire to the American Dream of being fabulously wealthy someday, you will love this book. You will validate your ambition. You will see why your goals are totally reasonable and why you should never, ever stop trying to reach the brass ring of the American Dream. If you are watching for the mailman to make sure your government check is about to hit this book is not for you. If you think everyone is entitled to the same salary, the same job, the same house and no responsibility then don't buy this book!
A remarkable book; a must-read. Everything jives with what I know to be true. Nothing overstated. Just the facts, ma'am. Accurate. Even though I am a liberal Democrat, I am a fiscal conservative. Reduce welfare! Fifty years ago, my paternal grandparents, father and uncles fought tooth and nail against looming welfare programs which now turn out to have been the correct perceptions of reality. I never knew IT had a name: "Moral Hazard."
George Gilder has a rare combination of both practical common sense and visionary genius. This book explains, better than any other, why capitalism is not only an efficient choice for human society, but the morally just choice. But Gilder goes further in explaining what capitalism really means, why the best policy decisions to enable true capitalism are often still fumbled even by many conservative-leaning politicians and Fed chairman. In my opinion, Gilder is one of only very few "must read" authors.
A libertarian approach to economics, points out the necessity to work hard and be innovative to get ahead financially, and how so many of our citizens have been trapped into remaining poor because our government gives them much more in benefits than they can earn in entry level jobs. It is hard to accept that our politicians have such a poor understanding of human nature. It is like they want to keep a large part of the country poor and dependent on government handouts stolen from the productive workers in society.
This is the most make sense book on economics I have read. People who acquire wealth are usually those who provide what others want. Government only distorts this process to favor those who are unable to sustain what their predecessors had built. A business can only survive as long as it serves its customers and if those who take over for the builders cannot maintain what was built, they will loose it. Remember shirtsleeves to shirtsleeves in 3 generations a sound maxim.
George Gilder has been rated a legendary analyst on high-tech. After reading this book, I can see how he got that rating. Mr. Gilder covers the analysis of economics by comparing past economic writers, and making his own analyses. He makes one conclusion after another, after presenting his case, and hits the nail on the head. What should governments in the US do? - He explains what they should do. What should individuals, poor and rich do? - He explains what they should be doing. Mr. Gilder also explains the heart of what separates rich from poor, and the fundamental reason may surprise you. He also tells why this underlying power is not explained by economic statistics, but by the inner workings of each human being. I highly reccommend this book. In fact, at the first chance that I get, I plan to read his most recent book, and gain his unique insights...
Maybe the best explanation of why capitalism works best that I've ever read.
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