From Conversations With Casey:

…In most cases, poverty is not a function of bad luck.

It can be, sometimes, of course. Perhaps if you’re born in a country with a brutal and repressive regime, or if you’re born with mental handicaps – there are all kinds of things that can happen.

But generally, with a few such exceptions, poverty is simply a sign of bad habits. In a relatively free country, it’s a sign of an inability or unwillingness to save, which is to say, to produce more than you consume. It’s a sign of a lack of self-discipline. Sloth that afflicts those not willing to learn skills they can sell to other people. It can be a sign of having no self-respect, as among those who spend all their money on drugs and alcohol, which are debilitating, rather than strengthening.

In the vast majority of cases, those who suffer from poverty are not victims of anything other than their own bad habits.

Crux note: You can read the full text of this interview – which is full of insights on wealth, poverty, and why charity is usually a waste – in the latest issue of Conversations With Casey. You can sign up for the free service here.

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