2004-09-16

The Self-Made Myth

United for a Fair Economy says public investments support private success

"I DIDN'T DO It Alone: Society's Contribution to Individual Wealth and Success," a report from United for a Fair Economy, spotlights successful entrepreneurs like investor Warren Buffett, Ben Cohen (of Ben & Jerry's), and Eric Schmidt of Google, and concludes that the myth of self-made success is not only false but destructive to the social and economic infrastructure that fosters wealth creation.

Buffett, Cohen and Schmidt do not believe they made their millions on their own. Like others profiled in the report, they attribute their success to many factors: public schools and colleges, government investment in research and small business assistance, contributions of employees, and strong legal and financial systems. Not to mention luck.

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