A Quote by Theodore Schultz
What many economists fail to understand is that poor people are no less concerned about improving their lot and that of their children than rich people are.
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People who are rich find it hard to understand the behavior of poor people. Economists are no exception, for they, too, find it difficult to comprehend the preferences and scarcity constraints that determine the choices that poor people make.
Many people are concerned with children of India, with the children of Africa where quite a few die of hunger, and so on. Many people are also concerned about the violence in this great country of the United States. These concerns are very good. But often these same people are not concerned with the millions being killed by the deliberate decision of their own mothers. And this is the greatest destroyer of peace today- abortion which brings people to such blindness.
We want an economic team, Paul Krugman and Robert Kuttner, Joseph Steiglitz's people and others, who say, you know what? We're sophisticated economists but we're concerned about poor and working people.
Where people work longest and with least leisure, they buy the fewest goods. No towns were so poor as those of England where the people, from children up, worked fifteen and sixteen hours a day. They were poor because these overworked people soon wore out -- they became less and less valuable as workers. Therefore, they earned less and less and could buy less and less.
Mitt Romney said he's not concerned about the very poor. What he means is people making less than a million.
People ask me many times, "Aren't you afraid you're going to scare people? Aren't you afraid you're going to make people feel bad about the human race?" I look at it as entirely the opposite. Something you can understand and identify should be less frightening than something you can't. And to understand that there are people who are capable of acting without conscience, without considering other people at all, explains a lot of things.
There's an awful lot of misunderstanding here about what being poor actually means. I don't think people understand that being poor means you have to work from dawn until dusk just to survive through the day. I think there's some notion that poor people lie about all day not doing anything. It is remarkable how many misconceptions there are here about life in the developing world and I think that that knowledge gap has done a lot to contribute to the imbalance quite frankly.
In a system of free trade and free markets poor countries - and poor people - are not poor because others are rich. Indeed, if others became less rich the poor would in all probability become still poorer.
It is easy to say that there are the rich and the poor, and so something should be done. But in history, there are always the rich and the poor. If the poor were not as poor, we would still call them the poor. I mean, whoever has less can be called the poor. You will always have the 10% that have less and the 10% that have the most.
There are many kinds of richness, and the man who is rich because of money is the lowest as far as the categories of richness are concerned. Let me say it in this way: the man of wealth is the poorest rich man. Looked at from the side of the poor, he is the richest poor man. Looked at from the side of a creative artist, of a dancer, of a musician, of a scientist, he is the poorest rich man. And as far as the world of ultimate awakening is concerned he cannot even be called rich.
I was very sad for many days when I discovered that in the world there were poor people and rich people; and the strange thing is that the existence of the poor did not cause me as much pain as the knowledge that at the same time there were people who were rich.
It isn't the rich people's fault that poor people are poor. Poor people who get an education and work hard in this country will stop being poor. That should be the goal for all poor people everywhere.
All of the incessant debate about development assistance, and whether the rich are doing enough to help the poor, actually concerns less than 1% of rich world income. The effort required of the rich is indeed so slight that to do less is to announce brazenly to a large part of the world: 'You count for nothing.' We should not be surprised, then, if in later years the rich reap the whirlwind of that heartless response.
I went to see Chris Rock on Saturday night here in Atlanta, and he made a statement in his comedy. He said, look, when you're the big person, when you're the rich person, poor people can say stuff about you, but it's downright wrong and brutal for rich people to beat up on poor people. He said people who are larger can lampoon people who are skinnier, but not the opposite.
I'm really not a great businessperson. I understand business, and I understand numbers, but I think what I understand more than that is people... Ultimately, I think businesses fail and people fail because they don't have their act together.
I've found that a lot of successful poker players grew up poor. And I'm convinced that poor people have a risk tolerance that rich people don't have because poor people fundamentally don't value money that much because they're used to not having it.
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