Friday, April 17, 2015

Taking On Robert Reich And The Myth Of The 'Non-Working Rich'

Serious policy should be based on facts, not on anecdotes cherry-picked to match a political agenda. Before sweepingly concluding that the “fabulously wealthy” who “have never worked” are “undermining the moral foundations of American capitalism,” Reich should do his homework. His only offered evidence is that “six of today’s ten wealthiest Americans [most notably the Wal-Mart Waltons] are heirs to prominent fortunes.” Reich, in his usual fashion, simply assumes what he says is true. 

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1 comment:

  1. If you google "Do the rich work harder?" you will find a take down by Robert Frank, and many other responses to the question by other economists and social scientists. You might argue that they work smarter, but that would be because they are rich and can afford to hire assistants of all kinds. The rich certainly work harder at making more money, again, because they have money to begin with that they can invest in projects that will generate more riches.