Telling of the two most successful self-made men on the planet: Jeff Bezos and Donald J. Trump. @JohnTamny @RealClearMarkets

Oct 14, 01:31 AM

AUTHOR.

(Photo: English: Photograph of banker Theodore Gilman with financier Andrew Carnegie. Courtesy of the Prints and Photographs Division, Library of Congress, Washington, D. C.

Date 1914

Source http://lcweb2.loc.gov/service/pnp/hec/03900/03941v.jpg

Author Harris & Ewing

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Public domainĀ 

This work is in the public domain in )

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Telling of the two most successful self-made men on the planet: Jeff Bezos and Donald J. Trump. @JohnTamny @RealClearMarkets

That wage minimums exist as barriers to employment is obvious. At the same time, opponents overdo it when they say wage floors cause poverty. Or when they say Jeff Bezos's calls for a $15 wage minimum are a 'crony' attempt by him to put his less automated competitors out of business. It's not serious to suggest that Bezos would waste his time on what wouldn't much impact his competition as is. The reality is that low-wage workers are incredibly expensive. That's why businesses would be automating relentlessly with or without minimum wages. As opposed to engaging in cronyism, my guess is that Bezos is logically fearful of politicians who frequently attack success. The wage talk was meant to placate them. The crony talk about Bezos is irresponsible. The opinion piece can be found here.

Donald Trump is a self-made man. That's not a political statement. Anyone who reads me knows how critical I've been of some of his policies, along with the person. Trump is self-made because by the New York Times' own admission he took an inheritance of an outer-borough real estate empire and created a global brand. All this ignores how he won the presidency (while beating true political heirs of the Jeb Bush and Hillary Clinton variety) on a shoestring budget. With the Forbes 400 there are frequently self-made members, along with heirs. But the members are rarely both. Trump surely inherited a lot of money, but by even the most conservative measures turned it into more while creating a brand name that's on buildings in the world's most prominent cities. Readers should put aside their views (pro, indifferent, against) to acknowledge that Trump is self-made. The opinion piece can be found here.