If you want to be rich invest in index funds and leave the money there. The book says nothing more than that. ( )

Capitalist Apologist rampant on a field of green

“Corporations don’t start or wage wars, at least not large wars,” says Ben Stein in The Capitalist Code. This is typical of the apologies he makes for the system, in a remarkably naïve and superficial overview of how to survive in the capitalist system. Another is “Probably the worst thing the modern corporation does is oil spills.” I could go on, but you get the idea. He lives in a wonderful world where he benefits from the work of others. And you can too.

Stein of course is well versed in economics, and that makes reading this all the more painful. He wrote it at a less than basic level, to attract millennials who supposedly have no smarts or inclination in this area. This adds insult to injury.

Stein’s prescription is buy stock and hold forever. It did well for him and his idol, Warren Buffet. He ignores all the data that precious few investors do well, or that even fewer companies survive. It is a self-help book and he doles out standard-copy advice. Things like save before you spend, and have plenty of liquid assets before you buy a home. But the main point is to buy stocks, preferably index funds and ETFs that represent a broader swath than just a single firm. Stein repeats this mantra endlessly.

It’s a short little book that you can read in two hours, which does not excuse it. There is a slim column down the middle of the page, as if it were meant to be read on a phone. And lots of blank pages among the 125 or so of text. If you want financial advice, there is better out there.

David Wineberg ( )