Many successful people get help along the way, and many poor people face a system designed to keep them underfoot.
As the above graph shows, real median household income had been growing after the Great Recession and under Barack Obama. The period under Donald Trump looks a continuation, not the creating of something new. That alone is proof the causal relationship Philipson argues for isn’t there. If so, the ramp under Obama should have been downward moving.
At such a time, it’s worth remembering a story about someone whose startup was trying to make a big sale to an even larger company The startup wasn’t well known and had actually gained its newest big product by buying it from the inventor. But marketing and sales are as much a part of business as invention and creation. Sometimes more, because without a way of getting the right people to buy a product, there’s no way to stay in business.
Yes, some scratch their way to the top. There are people who can run a four-minute mile, though most can’t. You can find prodigious natural talents in any field, whether sports, academics, business and finance, art, crafts, or what have you. But most people could work hard every day and not reach not obtain outsized success.
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