What if everything we learned about hard work, income, and wealth creation was incomplete or misleading?
The Wealth Illusion
disassembles the myth that hard work alone leads to wealth. Authored by Iddoosaa Ejeta Banae, PhD, an economist, educator, and social justice advocate, this book exposes how wages income, ownership, and systemic structures interact to create and sustain economic inequality.
Through comparative case studies on educators' income and cost of living in the U.S., with a focus on California and Sweden, alongside insights from Indigenous economic models such as the Gadaa System. The Wealth Illusion reframes the discussion by highlighting how the system values asset ownership over labor, shedding light on the complexities of wealth inequality.
With compelling narratives and data-driven insights, the book explores why income remains elusive for many, how housing markets and taxation exacerbate inequality, and what policy changes can genuinely democratize ownership. Core themes include:
The critical difference between income and wealth: Understanding why high income does not necessarily translate to wealth accumulation.
How modern economic systems reward asset holders, not wage earners: Insights into investment strategies prioritizing asset ownership.
Why educators and public servants are often locked out of wealth: Exploring systemic barriers and offering practical solutions.
Lessons from traditional systems like the Gadaa System that promote shared prosperity: Learning from Indigenous models to foster community well-being.
With clarity and courage, The Wealth Illusion illustrates how public policy, housing costs, taxation, and intergenerational wealth transfer create a cycle that prevents the majority from building lasting wealth.
aims to reveal the deeper structures that shape economic life and helps readers unlearn and relearn, fully understanding and addressing common misperceptions.