“A man does not ‘by nature’ wish to earn more and more, but simply to live as he is accustomed to live and earn as much is necessary for that purpose… & a people only work because and so long as they are poor.”
--Max Weber, Protestant Ethic
That’s why you see so many more millionaire plumbers than millionaire attorneys, because the attorney has a higher standard of living, and so has less money left over to save.
That’s why you see so many more millionaire plumbers than millionaire attorneys, because the attorney has a higher standard of living, and so has less money left over to save.
We do?
I was going to comment on that, but I don’t see any millionaires at all, so I thought I shouldn’t.
It cites statistics, and actually says that there are X millionaire lawyers, and X+Y plumbers? It isn’t just giving a lot of anecdotes?
I would be very surprised to hear that, because it implies that one is substantially more likely to become a millionaire by plumbing than by lawyering, since there are ~500,000 plumbers in the US and >1.1million lawyers.
It cites statistics, and actually says that there are X millionaire lawyers, and X+Y plumbers? It isn’t just giving a lot of anecdotes?
According to wikipedia it (1) generally cites statistics and (2) says that doctors, lawyers, and accountants save a much lower proportion of money than other occupations. google books says that it doesn’t mention plumbers at all.
I would guess that pretty much all lawyers permanently employed at BIGLAW are millionaires and pretty much no other lawyers are; but that’s probably enough to beat plumbers. I think the other lawyers have a similar income distribution to plumbers.
--Max Weber, Protestant Ethic
We do?
I was going to comment on that, but I don’t see any millionaires at all, so I thought I shouldn’t.
The main point of “the Millionaire Next Door” is that you might not notice millionaires.
See The Millionaire Next Door, http://www.amazon.com/Millionaire-Next-Door-Thomas-Stanley/dp/0671015206 .
It cites statistics, and actually says that there are X millionaire lawyers, and X+Y plumbers? It isn’t just giving a lot of anecdotes?
I would be very surprised to hear that, because it implies that one is substantially more likely to become a millionaire by plumbing than by lawyering, since there are ~500,000 plumbers in the US and >1.1million lawyers.
According to wikipedia it (1) generally cites statistics and (2) says that doctors, lawyers, and accountants save a much lower proportion of money than other occupations. google books says that it doesn’t mention plumbers at all.
I would guess that pretty much all lawyers permanently employed at BIGLAW are millionaires and pretty much no other lawyers are; but that’s probably enough to beat plumbers. I think the other lawyers have a similar income distribution to plumbers.