Free Markets as Anti-Poverty Program

http://www.futureofcapitalism.com/2010/05/free-markets-as-anti-poverty-program

Walter Williams has a new column up on the value of free market capitalism as an anti-poverty program:

Did Carnegie, Mellon, Rockefeller and Guggenheim start out rich? Andrew Carnegie worked as a bobbin boy, changing spools of thread in a cotton mill 12 hours a day, six days a week, earning $1.20 a week. A young John D. Rockefeller worked as a clerk. Meyer Guggenheim started out as a peddler. Andrew Mellon did have a leg up; his father was a lawyer and banker. Sam Walton milked the family's cows, bottled the milk and delivered it and newspapers to customers. Richard Sears was a railroad station agent. Alvah Roebuck began work as a watchmaker. Together, they founded Sears, Roebuck and Company in 1893. John Cash Penney (founder of JCPenney department stores) worked for a local dry goods merchant.

by Editor  |  May 12, 2010 at 8:17 am Related Topics:  Definition of 'Rich' receive the latest by email: subscribe to the free futureofcapitalism.com mailing list