Here's another school of thought too...

Hi Gordon, Jack, Sandy, and everyone....

Thanks, this is an interesting thread!

I recently purchased a new book here in Australia, called "Secrets of the Super Rich" by Dr. Michael Gilding. I'm not sure if this book is available outside of Australia. Dr. Gilding is a Professor at the School of Social and Behavioral Sciences at Swinburne University, here in Melbourne, Australia (where I live). He specializes in researching business-people and entrepreneurs.

This book summarizes the results of dozens of interviews he's had with billionaires and multi-multi-millionaires in Australia. Some of those he interviews are mentioned by their real names, others by pseudonyms (depending on their wishes).

A common theme comes up again and again.... Many of these super-entrepreneurs are driven to make money by feelings of insecurity.

This ties together the reason for high business success among many groups....

For example, here is a quote from the book.... [p. 60]:

One of the people I interviewed - I will call him Jared Cohen - reflects on the effect of the Holocaust on his father. Wealth accumulation, he remarks, "goes back to basic insecurity - the insecurity of the individual, the insecurity based on the background". Insecurity is "an unbelievable driver for performance".

Dr. Gilding finds that many self-made "super-wealthy" entrepreneurs have some period of difficulty in their childhood which gives them a feeling of insecurity they must overcome. There are experiences like the Holocaust, a father's death, bankruptcy, and other things. These entrepreneurs are driven to build wealth because of their fear of returning to those times of great hardship.

This idea rings true to me.... It helps to explain why there are so many very successful Jewish entrepreneurs (due to the experience of the Holocaust). It also helps to explain why so many new immigrants in general become successful business-people (since they feel insecure about their future in their new land).

I thought some here would find this interesting.... You can "experiment" with this. I've been "experimenting" with it myself, emphasizing in my mind the need for greater financial security, and thinking of the dreadful consequences if I don't attain it - with positive results so far. It certainly makes me work harder, and take more chances! Life is "less comfortable" when you do this (it's "harder" to relax and do nothing!), but it's an interesting "experiment"....

- Dien Rice


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