Paul Zane Pilzer

  Male      American      Economist

  Born : Jan 17, 1954  

About Author

Paul Zane Pilzer (born January 17, 1954) is an American economist, New York Times best-selling author, and social entrepreneur. He has written 11 books and is the founder of six companies, and has been profiled in more than 100 publications including on the front page of The Wall Street Journal.

Pilzer's 1991 book Unlimited Wealth criticized traditional economic theories as being based on scarcity: that the earth contains a fixed, limited supply of resources and the function of economics (i.e., capitalism, socialism, communism) is to best divide them up. "No wonder," said Pilzer in Unlimited Wealth, "they call economics the 'Dismal Science.'" In contrast, Pilzer offered a new theory called Economic Alchemy based on abundance: that the earth contains unlimited resources because of human ingenuity continually defining new resources and/or learning how to better obtain and use our existing resources. The central equation of Economic Alchemy is W = P x Tn : Wealth = Physical Resources times Technology, and T (Technology) has an exponential multiplier effect on itself.

Pilzer began developing Economic Alchemy in 1975 as a graduate student at the Wharton School of the University of Pennsylvania when he theologically could not accept his professor's views that God had created a world of growing population but limited resources. Over the next 15 years, he developed Economic Alchemy while working at Citibank (1976–1981), teaching at New York University (1979–2000) and serving as an appointed economic advisor in Ronald Reagan's Presidential Administration (1983–1988)...

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