About the book
In today’s politically charged climate, wealth is the scapegoat for every problem, from climate change to poverty to inadequate social programs. The rallying cry is that the wealthy aren’t paying their fair share. Further, a Gallup poll found that socialism is now more popular than capitalism among younger generations.
In his new book, In Defence of Wealth: A Modest Rebuttal of the Charge the Rich Are Bad for Society (Barlow Books, March 24, 2022), entrepreneur and one percenter Derek Bullen asserts that wealthy people aren’t the enemy, but the solution. In his well formulated argument, Bullen makes the case that punishing prosperity is a failed focus.
Citing historical instances in which countries — including the US —imposed taxes on the wealthy, it results in severely draining government coffers. Bullen shows that discouraging wealth is a misguided political policy for solving today’s societal problems. In truth, the free enterprise system has lifted hundreds of millions of people worldwide out of poverty.
Hard-working risk takers who apply their skills and dedication to reap rewards for themselves must also employ and pay others first, and provide them with the means to improve their own lives. Wealth creators enrich society through taxes, philanthropy and partnerships when government alone can’t or won’t.
Key Messages
- Are the rich paying their fair share?
- Does poverty increase as the number of billionaires goes up?
- Should governments impose additional taxes on the wealthiest members of society?
- How does the gap between rich and poor really impact the issues that the poor face?
- What rewards does society gain from successful entrepreneurs?
In Defence of Wealth counters those arguing that a healthy economy can only be imposed from the top down. Providing multiple examples of how wealth creators benefit us all, the author emphasizes that the economy grows when the few who can invest, take risks, innovate and transform their ideas into successful businesses that create wealth and employ others. If we want a higher standard of living for everyone, and want to raise the poorest among us out of poverty, having more rich people in the nation, not fewer, is the answer.
Praise
“An important story about the true wellsprings of growth and innovation in our society. It’s a long-overdue vindication of those who drive our economy.”
~ Mo Lidsky, Chief Executive Officer, Prime Quadrant ~
“A new look at the importance of wealth creators to support our standard of living and create opportunities for future generations.”
~ Nancy MacKay, CEO, MacKay CEO Forums ~
“In Defence of Wealth is an important book, written about an important topic, and is a counterweight to the political attacks in Canada, and elsewhere, against rich people and wealthy corporations. This is not to preclude the legitimate outing and penalization of bad business practices here and around the world, but author Derek Bullen addresses criticism of enterprises and individuals that are without merit. As a successful entrepreneur, he has been concerned, as are many, that the growing anti-wealth narrative undermines smart public policy, society, and future living standards which are based solely on the creation of wealth.