This is a commonly held hypothesis but the question of "why are the Jews successful despite being outsiders" is complicated and not in any way settled. What I know of it comes from reading some of "the origins of totalitarianism" Hannah Arendt. "The Jews are really hardworking" is a lazy and easy explanation for the question of how some Jews have flourished despite persecution.
It is not simply the case that culture is the proximal cause of (some) Jewish wealth than the particular material conditions of certain Jews throughout history that has lead to the affluence of and importance of some, mostly European Jews. For example, many Jews came to have a privileged position in European courts because of the rise of protestantism (a hardworking culture that doesn't value credit, something that Wax would probably say is "bad"). You're ignoring politics and history when you just chalk everything up to culture. It's survivorship bias at it's finest.
Edit: I butchered a sentence in the middle of my comment. Added a line break.
"If the Jews are okay, then how come you couldn't figure it out? HMMMMMM? That's what I thought." is heard often when bringing up the American Jewish within the context of this discussion. While I don't agree with down-voting a comment that smells similar to something toxic (I doubt the grand-parent intended this interpretation). The highly negative reaction is likely due to the frequency with which this argument is brought up, and its lack of any validity.
Comparing the American Jewish to African-Americans is an apples-to-oranges comparison. The time spans for the comparison are horribly different - When were Jews recently generationally slaved for centuries?
The thing that really annoys me about this comparison between Jews and African Americans is "because of their strong values of hard work, family, and creativity". In my opinion these values of Jewish Americans are obtained through the tightly ingrained religious and familial structures. Unlike the Jewish, however, African-Americans' culture was systematically annihilated when they were enslaved. There are few traces of African religions and customs that remained after slavery. Any shared values were destroyed by such an event. You can similarly say that the massive amounts of black males that have since been imprisoned for minor drug crimes in the U.S. has had a similar effect on the familial unit.
The plights of Jewish and Black Americans in the U.S. have been very different. This is likely why people reacted poorly to the subject being brought up.
Yes, Black Americans have suffered a truly horrible history of oppression that has caused cultural problems. If anything, you're agreeing with Wax that culture matters.
What we choose to do about that is up for debate. The fact of the situation, however, is not.
I don't follow. The quote strongly applies that freedom is preferable to slavery even if some would want otherwise.
> How do you propose to raise up a culture that doesn't value diligent hard work
Which culture? Don't be abstract. Name what culture you think doesn't value hard work and I will and we'll see if I can't find a counterexample.