Everything You Need To Know About Avoiding Poverty In 250 Words


Walter is a brilliant man with a knack for breaking complex economic issues down into easily understandable, bite sized sentences. This is no small feat because economics, despite what some people may tell you, is generally not intuitive or easy to grasp without a great deal of study.

In his column today, Walter Williams dropped this nugget of wisdom:

Poverty in Egypt, or anywhere else, is not very difficult to explain. There are three basic causes: People are poor because they cannot produce anything highly valued by others. They can produce things highly valued by others but are hampered or prevented from doing so. Or, they volunteer to be poor.

That reminded me of another little snippet of genius that Williams once penned,

Avoiding long-term poverty is not rocket science. First, graduate from high school. Second, get married before you have children, and stay married. Third, work at any kind of job, even one that starts out paying the minimum wage. And, finally, avoid engaging in criminal behavior.

I would add one thing to that: Don’t spend yourself into oblivion. So, take Walter Williams’ advice to heart, follow it over time, and at least you won’t live a lifetime of poverty. Anybody can be poor in America, in fact many of us have been, but nobody has to stay poor in America.

Trending Today

Related Articles

64

Q&A Friday #104: A Short Evaluation Of Each Of The GOP’s Potential 2012 Contenders

Of the existing GOP field – if you discount the polls and take a good, long, honest look at the

18

5 Reasons to Support Rick Santorum

Are you struggling to get all of your work done? Are things falling through the cracks? You ever feel overwhelmed?

2

Is American Life Really Slanted In Favor Of Women Over Men?

A hundred years ago when women couldn’t vote or hold the same careers as men, it would be hard to