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Quote by Hendrith Vanlon Smith Jr

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The Wealth Reference Guide: An American Classic

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Hendrith Vanlon Smith Jr

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“This scholarly shortfall did not happen by chance. Part of it has to do with particular discomforts characteristics of left-leaning academic social scientists. Conducting high-quality ethnographic or long-term participant observation research can require a great deal of empathy for one’s subjects. Such research involves more or less taking on the perspective of the people and culture being studied. It means listening to their stories with honesty and, if only for a moment, giving their experiences and their explanations the benefit of the doubt. But most social scientists know the facts about inequality, wealth, and privilege, and thus find the empathy required for ethnographic research in short supply when it comes to the ultra-wealthy. Empathy is more naturally given to the people and communities obviously suffering harm, rather than, say, a Wall Street financier who struggles with the life complexities and social-psychological dilemmas that accompany immense wealth and power.”

WealthResearchInequalitySociology
Book:Billionaire Wilderness: The Ultra-Wealthy and the Remaking of the American West
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“The set of friends that surrounded me ranged from a girl who received a Porsche wrapped in pink ribbons for her eighteenth birthday to someone who was ecstatic that he had made enough money to buy marijuana for his mother as a birthday present.”

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Book:Precisely How to Live: A Wall Street Banker's Playbook for Success, Values, and Joy
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“The gains in wealth and income have gone largely to a tiny share of the population, as is common knowledge by now. The people in the top 0.1 percent did fantastically well after 1980, those in the top 1 percent did very well, those below them in the top 10 percent enjoyed incomes growing at the same pace as the economy and those in the bottom 90 percent all lost ground—their incomes grew more slowly than the overall economy—during the last four decades.”

WealthIncome
Book:Tightrope: Americans Reaching for Hope
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