Being poor = having little or no
capital (goods).
Having little or no capital = living from day to day.
Things that prevent people from building capital:
- personal preference / high
time preference (eg: work 35hrs / week + party hard)
- aggression (eg:
minimum wage laws that prevent
unskilled workers from
entering the market. Unions preventing people from entering the market. Patent laws excluding small companies from entering the market. 'Redistribution of wealth'. etc)