Working Papers
The Anatomy of Capital Returns over the Very Long Run: Germany, 1465–2025
Economics Working Paper 26128
November 6, 2026
Recorded on September 19, 2015
Hoover Institution fellow Thomas Sowell discusses poverty around the world and in the United States. Poverty in America, he says, compared to the rest of the world, is not severe. Many poor people in poverty in the United States have one or two cars, central heating, and cell phones. The real problem for the poor is the destruction of the family, which Sowell argues dramatically increased once welfare policies were introduced in the 1960s.
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