Paul Zane Pilzer

Paul Zane Pilzer
Born (1954-01-17) January 17, 1954
Brooklyn, New York
Occupation Economist, Author, Entrepreneur
Spouse(s) Lisa Dang Pilzer
Website www.paulzanepilzer.com

Paul Zane Pilzer (born January 17, 1954) is an American economist, New York Times best-selling author,[1] 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.[2][3]

Economic Viewpoints

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.[4] "No wonder," said Pilzer in Unlimited Wealth, "they call economics the 'Dismal Science.'"[5] 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.[6]

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.[7] Over the next 15 years, he developed Economic Alchemy while working at Citibank (1976–1981),[8] teaching at New York University (1979–2000)[9] and serving as an appointed economic advisor in Ronald Reagan's Presidential Administration (1983–1988).[10]

Pilzer published his theory of Economic Alchemy in Unlimited Wealth - The Theory and Practice of Economic Alchemy (Crown Publishers, 1990)[11] and in God Wants You To Be Rich - Theology of Economics (Simon & Schuster, 1995, 1997, 2007).[12][13][14]

Pilzer has also written about employment, U.S. health benefits, wellness and the sharing economy. In 1985, he testified before a United States congressional hearing and since then has promoted the idea that employees should have personal, portable health insurance coverage independent of their employment but funded pre-tax by their employer.[15][16] In 1996, he began researching the bifurcation of America based on weight and health. From 1999-2014 wrote five books on the economics of obesity, health insurance, preventative medicine, and wellness.

Pilzer has been called the "father of Health Savings Accounts".[17][18] In 2003, the front page of the Sunday New York Times referred to Pilzer as "the Reagan administration economist turned wellness guru."[19]

Pilzer is currently researching what he calls The Sharing Revolution. "While the sharing economy is about using technology to halve the price of what you want to buy," says Pilzer, "the sharing revolution is about doubling the value of what you already own or are about to buy. Uber and Airbnb aren't just half the price of the services (taxis and hotels) they displace, to the consumer they are twice as valuable."[20]

Personal life

Pilzer was born in Brooklyn, New York in 1954 to immigrant parents Miriam and Elias Pilzer. He graduated Paul D. Schreiber High School in Port Washington, New York in 1971. He married Lisa Dang Pilzer (formerly Lisa Dang) on January 17, 2000. They have four children and live in Park City, Utah. Pilzer helped start Temple Har Shalom in Park City in 1995 and functioned as a lay rabbi leading services until a full-time rabbi was hired in 2002.[21]

Career

Academics

Pilzer earned a BA in Journalism from Lehigh University in 1974 at age 20 and an MBA from the Wharton School of the University of Pennsylvania in 1976.[22] He was an Adjunct Professor at New York University (1979-2000) where he served as Chairman of the Department of Real Estate Finance. He received an honorary Doctorate in Public Service from Parker College (now Parker University) in 2004.[23]

Pilzer served as Contributing Editor from 1979-1995 of Real Estate Review published by New York University[24] and Real Estate Finance Journal published by Wharton Business School.[25] He is the author of 16 academic articles. He has served as a Lecturer at Moscow State University in Russia (1985-1991), Peking University (2009), and University of Hong Kong (2013).[26]

Banking Industry

Pilzer was employed by Citibank (1976-1981) where he worked in EFT payment technology, government affairs and equity real estate investments. At Citibank he became an officer in 1976 and a vice president in 1980.

Real Estate Industry

In 1981, Pilzer co-founded Zane May Interests in Dallas, Texas.[27] From 1981-1989, Zane May Interests developed 66 projects in the U.S. and the former USSR. GE Capital featured the company in 1989 in its monthly magazine, Financial Enterprise—The Magazine of GE Capital.[28]

Education Industry

Pilzer was a student-teacher in Computer Science from 1975-1976 at the University of Pennsylvania. His graduate thesis was the construction of an interactive teaching machine on a mainframe computer. He wrote on the cover of his thesis: "One day this technology will be used to affordably bring the best teacher of every subject to every student."[29]

In 1989, Pilzer founded educational CD-ROM publisher Zane Publishing and served as its CEO and Publisher until the company became publicly listed in 1995 (NASD:ZANE).[30][31]

In 2005, Pilzer co-founded The American Academy, an online high school serving high school dropouts in partnership with their local public high school. Pilzer served as President of The American Academy from 2005–2008.[32][33][34]

In 2010, Pilzer founded Zane Prep, Inc. which distributes Zane Math and other STEM (Science, Technology, Engineering and Math) programs through Zaniac after-school learning centers.[35][36] By 2016 Zane Prep had opened ten Zaniac Learning Center locations and Pilzer and the company were featured in national publications ranging from The Boston Globe[37] to CNBC[38] to U.S. News and World Report.[39] Franchise Times magazine compared Pilzer to Elon Musk, and quoted Pilzer saying about Zaniac Instructors: “We don’t hire $40 an hour instructors and mark them up to $80,” he said, flatly. “We hire ivy league-bound future Nobel Prize winners.”[40]

In 2016, Pilzer's lifetime commitment to improving education was honored by University of Pennsylvania in Philadelphia. On May 11, 2016 Pilzer gave a Keynote Address at the University of Pennsylvania entitled "Where's the Uber of Education Technology?"[41][42]

Health Benefits Industry

In 1999, Pilzer founded Extend Health to distribute defined contribution portable individual health insurance policies through employers.[43][44][45] On January 6, 2012, Extend Health filed an IPO but was acquired by Towers Watson for $435 million on May 29, 2012.[46][47]

In 2006, Pilzer founded Zane Benefits, Inc. to offer defined contribution employer health benefits to U.S. employers through a Software-As-A-Service (SAAS) product called ZaneHealth. ZaneHealth allows small employers, brokers, and payroll suppliers to offer employees defined contribution health benefits through their own private health insurance exchanges. ZaneHealth helps employers transfer the health insurance risks of their employees to the federal government and has been the subject of front page articles in the The Wall Street Journal [48] USA Today,[49] and the New York Times.[50][51][52]

Fitness Industry

As reported in Club Business International magazine in 2008, Pilzer has criticized the fitness industry for catering mostly to fit individuals and missing the opportunity to serve a growing international obese population.[53]

In 2008, Pilzer was a keynote speaker for Planet Fitness and in 2010, Pilzer's wife, Lisa Dang Pilzer, became an area developer franchisee for Planet Fitness in Salt Lake City, Utah.[54]

Government Service

In 1985, Pilzer testified before the U.S. Congress on the then-developing savings loan crisis.[55][56]

Pilzer visited the former Soviet Union in 1969 as a high school chess player and lectured on economic issues at Moscow State University from 1983-1989. He attended the Moscow Summit (1988) between President Reagan and Premier Mikhail Gorbachev in 1988.[57][58][59]

In 1989, Pilzer wrote Other People’s Money — The Inside Story of the S&L Mess (Simon and Schuster, 1989) which was reviewed in the The New York Review of Books by economist John Kenneth Galbraith[60] and in The New York Times Book Review by Tony Solomon, former President of the Federal Reserve Bank of New York.[61]

In 1991, Pilzer was a candidate for the U.S. Congress in Texas' 3rd congressional district.[62]

On August 24, 2008, Pilzer spoke in Jakarta, Indonesia at the Gelora Bung Karno Stadium[63] where he was introduced by Indonesian President Susilo Bambang Yudhoyono[64]

In 2009, Pilzer’s book The Wellness Revolution was published in China as The Fifth Wave.[65][66][67][68] Pilzer addressed the Chinese nation on December 7, 2009 from the Center Podium in the Main Auditorium of the Great Hall of the People in Beijing, and on December 10, 2009 Pilzer spoke at Peking University.[69][70]

Professor Pilzer addressing from the Great Hall of the People, December 7, 2009.
Paul Zane Pilzer Speaking at Peking University, Beijing, Dec 10 2009.

In 2013, Pilzer was a lecturer at the University of Hong Kong on Social Entrepreneurship.[71]

In 2014, Pilzer was a lecturer at Nanjing University and gave a lecture on the future of the Chinese economy to more than 10,000 Chinese business professionals in Nanjing, China.[72]

Books and Publications

References

  1. ↑ God Wants You To Be Rich best-seller listing, The New York Times, February 4, 1996
  2. ↑ Chad Terhune, "Employers Turn To Alternative For Insuring Staff", The Wall Street Journal, July 30. 2007
  3. ↑ Chad Terhune, "Employers Turn To Alternative For Insuring Staff", The Wall Street Journal, July 30. 2007
  4. ↑ "Summary of ‘’Unlimited Wealth‘’”, Soundview Executive Summaries, March 1991
  5. ↑ David A. Geracioti, "Fertile Human Minds, Fertile Earth", Registered Rep, July 1, 2007
  6. ↑ "Summary of ‘’Unlimited Wealth‘’”, Soundview Executive Summaries, March 1991
  7. ↑ "Summary of ‘’Unlimited Wealth‘’”, Soundview Executive Summaries, March 1991
  8. ↑ Chad Terhune, "[Pilzer is a] former Citibank Vice President...and professor at New York University…", The Wall Street Journal, July 30. 2007
  9. ↑ Chad Terhune, "[Pilzer is a] former Citibank Vice President...and professor at New York University…", The Wall Street Journal, July 30. 2007
  10. ↑ Betsy Streisand, …Paul Zane Pilzer, the Reagan administration economist turned wellness guru…, The New York Times, August 31, 2003
  11. ↑ "Summary of ‘’Unlimited Wealth‘’”, Soundview Executive Summaries, March 1991
  12. ↑ "More Spiritual Leaders Preach Virtue of Wealth", ‘’The Wall Street Journal’’, April 5, 1996
  13. ↑ Chad Terhune, "Employers Turn To Alternative For Insuring Staff", The Wall Street Journal, July 30. 2007
  14. ↑ Chad Terhune, "Employers Turn To Alternative For Insuring Staff", The Wall Street Journal, July 30. 2007
  15. ↑ "Economist/Entrepreneur Says Employers Should Stop Offering Group Health Insurance, Help Employees Seek Own Coverage", Medical News Today, 2007
  16. ↑ Paul Zane Pilzer, The New Health Insurance Solution, (Wiley Press, 2005, 2007)
  17. ↑ Kaja Whitehouse, "When to Choose and HSA" The Wall Street Journal, page 2, September 25, 2005
  18. ↑ Parker College, "Parker College to Award Prestigious Doctorate in Public Service to Economist and Wellness Advocate, Paul Zane Pilzer", Press Release from Parker College (now Parker University), April 17, 2004
  19. ↑ Betty Streisand, "The Guru of Product Potential", The New York Times, Page 1, Business Section, August 31, 2003
  20. ↑ Dr. Josephine Gross, "The Sharing Revolution: A Conversation with Paul Zane Pilzer", Networking Times, October 2014.
  21. ↑ Hilary Leila Krieger, "Mountain Jews", The Jerusalem Post, September 19, 2008
  22. ↑ Paul Wirth, "The Economic Alchemist", Lehigh Alumni Magazine, 1990
  23. ↑ Parker College, "Parker College to Award Prestigious Doctorate in Public Service to Economist and Wellness Advocate, Paul Zane Pilzer", Press Release from Parker College (now Parker University), April 17, 2004
  24. ↑ Paul Zane Pilzer, Articles in Real Estate Review, published by New York University, 1979-1995
  25. ↑ Paul Zane Pilzer, "Ahead to the Past", Real Estate Finance Journal sponsored by Wharton Business School, Summer 1989
  26. ↑ University of Hong Kong, "University of Hong Kong poster on Professor Pilzer's Lectures on Social Entrepreneurship", University of Hong Kong, March 25, 2013
  27. ↑ William Summers, "Renaissance and Real Estate", Financial Enterprise—The Magazine of GE Capital, Fall 1989
  28. ↑ William Summers, "Renaissance and Real Estate", Financial Enterprise—The Magazine of GE Capital, Fall 1989
  29. ↑ About Zane Publishing
  30. ↑ Duncan Maxwell Anderson, "Unlimited Wealth", SUCCESS Magazine, October 1993
  31. ↑ Peg Verone, "Master of the Deal", SUCCESS Magazine, June 1997
  32. ↑ Nicole Stricker, “Online high school could go global”, The Salt Lake Tribune, Nov. 4, 2006]
  33. ↑ The American Academy, "The American Academy Earns Accreditation from the Northwest Association of Accredited Schools" Press Release from The American Academy, March 4, 2008
  34. ↑ "The American Academy, LLC", BloombergBusinessweek
  35. ↑ "Article: Zions Bank 'Speaking on Business'", Zions Bank, April 5, 2013
  36. ↑ "Video: Zions Bank 'Speaking on Business'" on YouTube, Zions Bank, April 5, 2013
  37. ↑ Wendy Killeen, "Teaching tech to the next generation", BostonGlobe.com, September 30, 2015
  38. ↑ Barbara Booth, “Don’t worry if your kids played ‘Minecraft’ all summer”, CNBC.com, September 11, 2015
  39. ↑ Amy Golod, “Kids Learn STEM Through Fashion Design”, USNews.com, September 30, 2015
  40. ↑ Tom Kaiser, “Crazy Genius Seeking the Same”, Franchise Times, September 10, 2015
  41. ↑ "Pilzer sees the future of education blending tech, touch", Penn GSE Newsroom, May 6, 2016
  42. ↑ "Pilzer speech at University of Pennsylvania Graduate School of Education", "University of Pennsylvania Graduate School of Education", May 11, 2016
  43. ↑ "Economist/Entrepreneur Says Employers Should Stop Offering Group Health Insurance, Help Employees Seek Own Coverage", Medical News Today, 2007
  44. ↑ Article in Management Consulting News, Management Consulting News, Vol. 5, No. 2, February 6. 2006
  45. ↑ Chad Terhune, "Employers Turn To Alternative For Insuring Staff", The Wall Street Journal, July 30. 2007
  46. ↑ "UPDATE: Towers Watson To Buy Extend Health For $435 Million", The Wall Street Journal, May 14, 2012
  47. ↑ "Towers Watson To Acquire Extend Health", InformationWeek, May 15, 2012
  48. ↑ Chad Terhune, "Employers Turn To Alternative For Insuring Staff", The Wall Street Journal, July 30. 2007
  49. ↑ Julie Appleby, "Employers put health coverage in workers' hands", USA Today, January 23, 2008
  50. ↑ Robb Mandelbaum, "Risking a Health Insurance Strategy the I.R.S. May Not Approve", New York Times", June 4, 2014
  51. ↑ Robb Mandelbaum, "Would You Try This Health Insurance Strategy With Your Company?", New York Times", June 4, 2014
  52. ↑ Robb Mandelbaum, "A Business Owner Stands By Zane Benefits’ Controversial Health Insurance Plan (for Now)", New York Times", August 25, 2014
  53. ↑ Jon Feld, "Prophet of New Profits", Club Business International, May 2008
  54. ↑ "Five new Planet Fitness gyms planned in western Salt Lake County", Wasatch Business Review, April 18, 2011
  55. ↑ Paul Zane Pilzer, "Taking Uncle Sam for a $200 Million Ride", Real Estate Review, Vol. 16, No. 2, Summer 1986
  56. ↑ "Crisis? What crisis?, The Economist, December 2, 1989
  57. ↑ Paul Zane Pilzer, , The New Health Insurance Solution, Wiley Press, 2007
  58. ↑ Paul Wirth, "The Economic Alchemist", Lehigh Alumni Magazine, 1990
  59. ↑ Paul Wirth, "Millionaire Raps S&l Insurance System Author Claims Broad Deposit Guarantees Encouraged Speculation By Thrift Owners", The Morning Call, October 23, 1989
  60. ↑ John Kenneth Galbraith, "The Ultimate Scandal", The New York Review of Books, January 18, 1990
  61. ↑ Anthony M. Solomon, "Book & Business; The Risks Were Too Good To Pass Up", New York Times Book Review, October 29, 1989
  62. ↑ Sally Giddens, "Dough Boy", Texas Monthly, June 1991
  63. ↑ Paul Zane Pilzer explains wellness business opportunities on YouTube, August 24, 2008
  64. ↑ Indonesian President Susilo Bambang Yudhoyono introduces Paul Zane Pilzer on YouTube, August 24, 2008
  65. ↑ Fang Yang, "China has greatest opportunity to lead wellness around world", China View, October 26, 2009
  66. ↑ "Expert sees big health market in China", People's Daily Online, October 27, 2009
  67. ↑ "Innovation is the only way out of the crisis", 21st Century Business Herald, October 29, 2009
  68. ↑ Zhang Xu, "Wellness Industry Is a New Stimulus for China's Economy", CRIENGLISH.com, December 11, 2009
  69. ↑ Paul Zane Pilzer's China Visit, December 2009
  70. ↑ Andrew Kirk, "Caring about Park City and the price of tea in China", The Park Record, December 15, 2009
  71. ↑ "University of Hong Kong poster on Professor Pilzer's Lectures on Social Entrepreneurship", University of Hong Kong, March 25, 2013
  72. ↑ "Professor Pilzer's lecture on the future of the Chinese economy", Nanjing University, November 16, 2014
  73. ↑ "Crisis? What crisis?, The Economist, December 2, 1989
  74. ↑ John Kenneth Galbraith, "The Ultimate Scandal", The New York Review of Books, January 18, 1990
  75. ↑ Anthony M. Solomon, "Book & Business; The Risks Were Too Good To Pass Up", New York Times Book Review, October 29, 1989
  76. ↑ Letter to Paul Zane Pilzer from Sam M. Walton, August 8, 1990
  77. ↑ Betty Streisand, "The Guru of Product Potential", The New York Times, Page 1, Business Section, August 31, 2003
  78. ↑ Paul Zane Pilzer, The Wellness Revolution (Hebrew edition), Prague Publishing House, 2009
  79. ↑ Paul Zane Pilzer, "The Fifth Wave of Wealth", Knowledge Press, April 1, 2004
  80. ↑ "Parker College to Award Prestigious Doctorate in Public Service to Economist and Wellness Advocate Paul Zane Pilzer", Press Release from Parker College (now Parker University), April 17, 2004
  81. ↑ "Paul Zane Pilzer is interviewed live by CNN Anchor Gerri Willis", CNN, October 8, 2005
  82. ↑ "Paul Zane Pilzer interview with Pat Robertson" on YouTube, Christian Broadcasting Network, October 29, 2012l
  83. ↑ "Paul Zane Pilzer Interview on WealthTrack" on YouTube, PBS, November 24, 2006
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