How Much Is Enough
This is something I've often found myself personally thinking about. I've thought about it in varying contexts, personal wealth, tax policy, but precisely I wonder about it as a personal matter.
It's a touchy subject I find, probably because those I discuss it with tend to be politically minded and immediately jump to some idea of socialism, thereby becoming defensive thinking I'm pushing some idea of government regulation.
I'll be clear at the forefront, not every idea that is advocated from a political outlet is a matter of policy. I do not think this is something that should be legislated. But I do think it is something that needs to be thought about by the public at large.
So, the question is how much money is enough money?
I contend that millionaires and even more so billionaires are themselves not needed in a functional society. I am speaking of the individuals. However, there seems to be a need for the idea.
We learn throughout our lives that our goal in life is to earn as much money as possible. From the time we're old enough to walk and talk - when we are still a twinkle in our parent's eyes, almost all thoughts about our futures is centered around a thought about us making as much money as possible.
Some of us grow up to be much more successful at this than others. Mind you, I'm not condemning success. The likes of Warren Buffet and Bill Gates are brilliant people who leveraged their intelligence to gain incredible wealth. I do not fault them or begrudge them for it. They should be congratulated, and if possible emulated.
But the problem comes from greed. It comes not from great people who leverage their talents to build their wealth, but those who in seeking to emulate them stop at nothing to reach an ever-elusive, nondescript goal.
As I said, from a policy perspective what is important is not the individual millionaire or billionaire, but the fact that such a person exists. That is because the ultimate perceived failing of socialism is the dearth of innovation and drive that allows for the creation and growth of wealth. The ideals of socialism holds that everyone works and gets to enjoy the same benefits as everyone else. The ideal holds that everyone attains a dreamlike lifestyle wherein everyone lives what today would be considered an upper-middle class lifestyle.
What happens instead is that the society stagnates as innovation dries up because individuals see no benefit in trying any more than needed. Industry doesn't grow. So, rather than the idyllic scenario of everyone driving fancy cars, living in beautiful homes, with money for lots of other things, instead everyone lives near or in poverty.
Thus, the idea of pursuit of wealth as it is presented in capitalism becomes important. The desire of the individual to make money inspire creative thought. That thought brings innovation in products and services, and the ideal is that the cycle continues endlessly, lifting all ships, as the saying goes.
But as I said, there must be a question of how much is enough. Why? Because greed is as destructive as apathy.
Greed is what leads some to think it's alright to enslave others, or pay workers next to nothing for the sake of their own profits. It leads to individuals who take huge risks with other people's money. It is the source of many evils. The common idiom that money is the root of all evil is a misquote. It is the Love of money that is the root of all evil. It is when the individual becomes obsessed about obtaining money and the control they can exert on others by obtaining increased wealth that problems crop up.
Which is why this question, I feel, is important. Because money is just money. It is a means to an end. What one does to obtain money is not insignificant and cannot simply be absolved by attempting some philanthropic endeavor later on down the road. As I've repeated a couple times now millionaires and billionaires themselves are not important to the society as a whole, as much as the idea of them is. But these are individuals.
They are people. They are not some intangible mass, and as such they are subject to the same thoughts, feelings, and laws, as anyone else. They can be admired for what they've accomplished and what examples they set. But that doesn't mean ignoring their failures. We must learn from their failures and avoid the mistakes they made. It means not repeating the bad choices they did, even if it means making a little less money or doing so a little slower.
I believe that starts by figuring out the answer to the question; how much is enough? What is it you want to do, how do you plan to accomplish it, and how much do you need to do it? How much is enough?
It's a touchy subject I find, probably because those I discuss it with tend to be politically minded and immediately jump to some idea of socialism, thereby becoming defensive thinking I'm pushing some idea of government regulation.
I'll be clear at the forefront, not every idea that is advocated from a political outlet is a matter of policy. I do not think this is something that should be legislated. But I do think it is something that needs to be thought about by the public at large.
So, the question is how much money is enough money?
I contend that millionaires and even more so billionaires are themselves not needed in a functional society. I am speaking of the individuals. However, there seems to be a need for the idea.
We learn throughout our lives that our goal in life is to earn as much money as possible. From the time we're old enough to walk and talk - when we are still a twinkle in our parent's eyes, almost all thoughts about our futures is centered around a thought about us making as much money as possible.
Some of us grow up to be much more successful at this than others. Mind you, I'm not condemning success. The likes of Warren Buffet and Bill Gates are brilliant people who leveraged their intelligence to gain incredible wealth. I do not fault them or begrudge them for it. They should be congratulated, and if possible emulated.
But the problem comes from greed. It comes not from great people who leverage their talents to build their wealth, but those who in seeking to emulate them stop at nothing to reach an ever-elusive, nondescript goal.
As I said, from a policy perspective what is important is not the individual millionaire or billionaire, but the fact that such a person exists. That is because the ultimate perceived failing of socialism is the dearth of innovation and drive that allows for the creation and growth of wealth. The ideals of socialism holds that everyone works and gets to enjoy the same benefits as everyone else. The ideal holds that everyone attains a dreamlike lifestyle wherein everyone lives what today would be considered an upper-middle class lifestyle.
What happens instead is that the society stagnates as innovation dries up because individuals see no benefit in trying any more than needed. Industry doesn't grow. So, rather than the idyllic scenario of everyone driving fancy cars, living in beautiful homes, with money for lots of other things, instead everyone lives near or in poverty.
Thus, the idea of pursuit of wealth as it is presented in capitalism becomes important. The desire of the individual to make money inspire creative thought. That thought brings innovation in products and services, and the ideal is that the cycle continues endlessly, lifting all ships, as the saying goes.
But as I said, there must be a question of how much is enough. Why? Because greed is as destructive as apathy.
Greed is what leads some to think it's alright to enslave others, or pay workers next to nothing for the sake of their own profits. It leads to individuals who take huge risks with other people's money. It is the source of many evils. The common idiom that money is the root of all evil is a misquote. It is the Love of money that is the root of all evil. It is when the individual becomes obsessed about obtaining money and the control they can exert on others by obtaining increased wealth that problems crop up.
Which is why this question, I feel, is important. Because money is just money. It is a means to an end. What one does to obtain money is not insignificant and cannot simply be absolved by attempting some philanthropic endeavor later on down the road. As I've repeated a couple times now millionaires and billionaires themselves are not important to the society as a whole, as much as the idea of them is. But these are individuals.
They are people. They are not some intangible mass, and as such they are subject to the same thoughts, feelings, and laws, as anyone else. They can be admired for what they've accomplished and what examples they set. But that doesn't mean ignoring their failures. We must learn from their failures and avoid the mistakes they made. It means not repeating the bad choices they did, even if it means making a little less money or doing so a little slower.
I believe that starts by figuring out the answer to the question; how much is enough? What is it you want to do, how do you plan to accomplish it, and how much do you need to do it? How much is enough?
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