Why You Won't Get Rich: And Why You Deserve Better Than This

by Robert Verkaik

From the bottom to the top of our economy, capitalism is too blunt an instrument to tackle Britain's epidemic of inequality. Soaring rents, unfair taxation and a growing gig economy have brought about unprecedented economic Amazon warehouse workers living in tents, nurses turning to foodbanks, London firemen commuting hundreds of miles to work. Even those higher up the ladder are losing their grip on the life they were promised. Barristers take home less than the minimum wage and doctors are starting out with £100,000 student debts on salaries lower than the national average. We’re all facing a new economic phenomenon – in-work poverty. At the same time a generation of young professionals is coming to terms with never being able to own even the cheapest home in their area. From the bottom to the top of our economy, capitalism is too blunt an instrument to tackle Britain's epidemic of inequality. Soaring rents, unfair taxation and a growing gig economy have brought about unprecedented economic Amazon warehouse workers living in tents, nurses turning to foodbanks, London firemen commuting hundreds of miles to work. Even those higher up the ladder are losing their grip on the life they were promised. Barristers take home less than the minimum wage and doctors are starting out with £100,000 student debts on salaries lower than the national average. We’re all facing a new economic phenomenon – in-work poverty. At the same time a generation of young professionals is coming to terms with never being able to own even the cheapest home in their area. Hard work no longer pays off. But there is hope for a better, fairer future.

Genres: Nonfiction, Economics, Politics, Money

280 pages, Kindle Edition

Published February 9, 2021

Reviews

[Lilly Hawkins · Rating 4 out of 5]

Very interesting!

[Liesl · Rating 5 out of 5]

This is SUCH a good book. While it's focus is the UK, the general sentiment applies worldwide. The author lays out a great case for late stage capitalism and how meritocracy is no longer applicable. He shows example after example of how our current systems are biased in favour of the already wealthy, which leads to society gradually becoming more unequal.

He also mentions a few other fantastic books that delve deeper into certain aspects. I do wish he had spent more time going over potential solutions, but that is probably another book in itself. This one is more just to inform and educate on the class struggle we are currently in.

[Benjamin Kia · Rating 1 out of 5]

Blames capitalism for everything wrong in the past and current economies without demonstrating correlation.

The author contradicts himself: “Ineluctably, not everyone can be rich and successful; otherwise, neither term means anything.”

Two lines later: “isn’t it better, more rewarding for all of society, to inculcate a culture in which everyone can claim to feel rich?”

The two very last lines of the book are “The strivers, grafters and strugglers must all believe they can be rich.”

These lines finish off the book while earlier pages argue that governments must introduce stricter land, property and asset taxes.

I am left wondering how these strivers, grafters and strugglers will become rich if everything they could strive to own will be punished with taxation.

Maybe the author truly only wishes for the middle class to believe while not actually being able to become rich? To improve productivity the lower and middle class must believe they can become rich, the author writes.

I close the book with thoughts of Soviet pasts where no one could own anything except the state.

[Grant · Rating 4 out of 5]

An amazing read that only slightly misses the mark on two points surrounding Bitcoin (which I think is a Ponzi scam too) and that there is an element of personal responsibility re rich people losing their wealth, it’s easily one of the best books in dispelling the “American dream-I’ll be rich one day” mentality whilst showing it’s a world wide issue. It probably could be titled “why not everyone can be rich” but that’s just being picky.

[Fan Wu · Rating 5 out of 5]

This book says it all. This is written from a more anecdotal perspective but it is very conclusive. But I would add those phenomenons are not new, and they are far worse in the previous decades or centuries. Being financially literate is always a prerequisite to prosper and it is more important than ever.

[Paul · Rating 3 out of 5]

Nothing new but a very well thought out argumentation. At some point we'll reach the level of disincetive to work that was present in communist societies where employers pretend to pay workers and workers pretended to work.

[Savannah Rabinowitz · Rating 4 out of 5]

This book was pretty depressing and heartbreaking in some parts and I ended up not finishing it because I was miserable reading some of the real-life stories. Made me not want to exist in this capitalist hell-hole. But really really well written!

[Mur McEwan · Rating 3 out of 5]

The book was interesting in its own way; the author worked hard to get his arguments across.

The main message seems to be a disincentive to working hard and / or trying to "better oneself". We're all doomed, so why bother?

[Nirav Pankaj · Rating 3 out of 5]

the title is not the statement. however the author is firm in his belief that the title is a permanent truth. even though the country and the economy discussed is not India or Indian economy the findings are so well relatable to our country too. worth reading if economics and policies interest you.

[Kieran Nurmi · Rating 1 out of 5]

A disjointed collection of essays that doesn't seem to build to any point other than the world sucks.

[Jonny Brick · Rating 4 out of 5]

Polemic with plenty of numbers. 20 little vignettes which are very good on the effect of capitalism on class. Some solutions offered but as bleak as a Ken Loach film.

[Rodrigo Soto · Rating 3 out of 5]

Too focused on particular examples, instead of the whole picture and proposing solutions to the problems. However, it raises key issues of the british socioeconomic troubles

[Felix Natusch · Rating 3 out of 5]

6,5