Unlimited wealth by paul zane pilzer pdf Unlimited wealth by paul The Next Millionaires by Paul Zane Pilzer - Free download as PDF File. BY PAUL ZANE PILZER Paul tvnovellas.info 10/12/05 PM Page 69 . Distribution in the New Economy In my book Unlimited Wealth, I wrote that the. Book Details. Author: Paul Zane Pilzer. Pages: pages. Publisher: Crown Publications Language: English.
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Unlimited wealth. by: Paul Zane Pilzer External-identifier: urn:acs6: unlimitedwealtht00pilz:pdf:db42dbef-aeebbcfd. UNLIMITED. WEALTH. By Paul Zane Pilzer. THE SUMMARY IN BRIEF ost of us aren't The author: Real estate whiz Paul Zane Pilzer also writes and teaches. Home» Media» Articles» Unlimited Wealth Click to download the PDF But year-old Paul Zane Pilzer, the economist-entrepreneur-professor, has an.
Reading your book and hearing you speak has shown me how wrong I was! But I was wrong! Now I realize that these views were just excuses for my lack of initiative, and that one of the things God wants me to do most as a good Christian is to be rich. That's why he created a world where the more successful I am, the more wealth there is for everyone else to share. What is important, however, is not how it was done, but why. As an economist and businessperson, I have devoted my life to explaining how people can become rich.
If you ends. I can spend an hour with my This is one of the best attributes of a home-based busiother. I can put my hours in after all my chilness. Even though most people today do it because they ly playing these priorities dren are asleep. Adapted from The Next Millionaires For more information visit www. What do they have in common? But disaster strikes. But when it blows up he gets to write a best-selling book about it.
Guess what. Indiana Jones is a character out of the movies. But year-old Paul Zane Pilzer, the economist-entrepreneur-professor, has an office in Dallas.
We went there to meet him.
What do you do for a living? We live at a time of change greater than the Agricultural or Industrial revolutions. We are now able to create a potentially unlimited amount of wealth out of worthless matter, using our minds.
But I keep hearing that our economy is terminally ill. The musical compact disk industry is bigger than the vinyl record industry it replaced.
The news media tells us all about plant closings. And a lot more wealth is being created.
Wealth is being displaced from one sector of our economy to another. In , the U. In the next 50 years, advances in chemistry and biology made food production so efficient that by , even though we had only , farmers, they produced more than enough food for almost million Americans.
Did we lose millions of agricultural jobs? Was it bad? It freed up money and people to do other things and produce more wealth.
Today, people will keep getting wealthier if they can keep learning new skills. What do you call wealth? We live in an age where alchemy is real.
The medieval alchemists were looking for the secret of turning base metals into gold, because they believed that God would not have created a world where you can only enrich yourself by making someone else poorer. Crude oil was a bad-smelling nuisance until human ingenuity figured out how to refine it into a fuel. Wealth is unlimited because it comes from our minds.
Copper and timber are being replaced by fiberoptic glass and various plastics. We really create our supply of raw materials by our ingenuity. But that's exactly what happened when the digital compact disc took hold in and captured virtually the entire vinyl record industry by As we will examine more closely in Chapter 5, "What's Happening to Our Jobs," just as only a few of the farmers in the s made the switch to making carburetors or vinyl records, only a few of their displaced children in the s made the switch to making computerized fuel injectors or digital compact discs.
Unlike their children, however, the farmers had ten times the number of years to adjust to these dramatic changes.
As a society, with retraining we always have jobs for workers displaced by technology. This is because, by definition, such displacement always represents a transfer of their wages to some other group -- a group that then has an increased propensity, and a greater financial ability, to consume more products and services. But, as we will examine more closely in Chapter 8, "Government," we now need an affirmative program to deal with this displacement, because vocational changes that used to take place over several generations now take place several times over a single lifetime.
What guarantees that the immediate beneficiaries of technological displacement will always want to purchase new products and services with their increased remuneration? The answer is the very thing that caused the displacement in the first place -- increasing technology.
The technology that causes displacement also creates unlimited demand by lowering the price of existing products and services and by creating new products and services for people to consume.
Unlimited wealth comes from fulfilling this unlimited demand with a potentially unlimited supply of retrained displaced workers. This process entails one great risk, both for individuals temporarily displaced by technology and for society at large. That risk is our potential failure to understand that unemployment caused by technological displacement is the opportunity for personal and economic growth, rather than the beginning of permanent economic decline.
Individuals who fail to realize this are doomed to economic failure, and societies that make this mistake are in danger of total collapse see, in Chapter 8, "The Greatest Challenge of Our Century". In , manufacturing was the bedrock of America's economic power, employing approximately 40 percent of all U.
Suppose I told you, in , that 50 percent of the country's manufacturing jobs -- 20 percent of all U. Suppose I also told you not to worry about the country's economic power because by the remaining manufacturing employees would be producing more than five times the level of output. And suppose I further told you not to worry about overall unemployment because the food service industry alone would absorb all of the displaced manufacturing workers, as the amount of meals U.
If you had been familiar with the restaurant industry in , you wouldn't have believed my predictions for at least four seemingly valid reasons: First, you would have argued in , only the very wealthy could afford to eat half their meals out of the home -- to which I would have responded that advancing technology would lower production costs so much that by it would be less expensive to eat out than dine at home. Second, you would have argued in , there weren't enough restaurants in America to seat that many people at mealtimes -- to which I would have responded that over the next twenty years, tens of thousands of suburban shopping centers would be built to house hundreds of thousands of new dining establishments.
Third, you would have argued in , people would be bored eating out so much, since, back then, there were only two basic types of cuisine available "food" and "French" -- to which I would have responded that by there would be restaurants serving cuisines that I couldn't describe to you in because some of them would be from countries that weren't even independently named countries yet.
Fourth, even if you accepted my incredible predictions about lower costs, increased number of dining establishments, and unlimited varieties of cuisine, you would have argued that people just didn't have the time to eat out so often -- to which I would have responded that by there would be a whole new category of restaurants defined not by their price, location, or country of origin, but by the speed of their service; establishments that we would call "fast food" restaurants.
The incredible displacement of employees in the manufacturing sector from to , and the even more incredible growth of employment in just the restaurant industry during the same period, is indicative of what is happening today throughout our entire economy at an ever-increasing pace. Moreover, most of the economic growth about to happen in the next two decades will be in sectors of our economy that may not even exist today.
For example, one of the fastest growing sectors of the economy today is the U. Compare this to the U. Similarly, in the late s, consumers started buying VCRs to record television programs while they were away from home. Ironically, some U.
This complaint falls on deaf ears in Asia, where parents feel compelled to spend for their children multiple times this amount on U. In order to comprehend how our economy functions today, we need to have a scientific understanding of how it functioned yesterday. But in order to use this understanding to shape our future, we need to have a religious faith in why our economy works -- a faith based on the belief that God wants us to be rich.
This faith is important because the greatest economic opportunities of tomorrow, almost by definition, are in sectors of our economy that may not even exist today. Before understanding why and how God wants you to be rich, I want to stress the importance of empathizing with the situations discussed in this book and drawing analogies between these situations and your own life experiences.
At the start of each semester at New York University, I ask the class why they are taking my course. A few bold students readily admit that they are there to learn how to become rich.
I then pose the following question to the class. Often the only way to truly learn something is to experience it for yourself. In light of this, the best we can do is let our younger sibling know that we will always be there for them and will always love them unconditionally, no matter what choice they make.
Unfortunately, I explain to my students, despite the experiences that I and their other business mentors have had in the business world, there is often little we can really teach them -- true learning often requires firsthand experience.
But the more you can empathize with other people's past experiences and draw analogies with your current experiences, the faster and less painfully you will be able to learn new things for yourself. This book is composed of two interleaved parts.
The first part is the main text, which is divided into the nine chapters shown on the Contents page. The second part consists of thirty-eight articles illustrating the concepts discussed in the main text.
You can read these articles in the order they are presented throughout the main text, or you can simply select them by their descriptive titles on the Contents page. The nine chapters of this book and their descriptive articles progress from the abstract to the practical.
Chapter 2 "The Covenant" explains the contract that underlies our entire modern economy -- God's promise to Abraham that one day all his children would understand the concepts of unlimited wealth.
Chapter 3 "Searching for Camelot" examines the development of traditional e. And Chapter 4 "Economic Alchemy" summarizes a decision-making theory of business based on the economics of abundance rather than the economics of scarcity.
Taking a more practical approach, and using the information in the first few chapters as a base, Chapter 5 "What's Happening to Our Jobs" explains what is happening to our careers today.
Chapter 6 "The Workplace of the Twenty-first Century" takes this information to the next stage, explaining what we will need in the future and what each of us can do now to prepare for it. As a former executive with Citibank and as a technologist on the information superhighway, I have always been fascinated by the concept of money -- the abstract invention we use to record our prosperity and store our wealth.