Rich people, Conrad says, do most of the saving and investing. They provide the capital that creates new businesses and industries, finances inventions and discoveries, and are willing to take many risks and lose a lot of money for every one that pays off spectacularly. If the rich didn’t do these things, we would all be worse off.
Conrad concentrates on rich people as investors. But the wealthy also provide enormous benefits as consumers. Think of all the inventions of recent years that were enormously expensive when the first ones came on the market: personal computers, high definition televisions, cellular telephones, tablets, and so many others.
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