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  1. Oct 2024
    1. Thus is the problem of Rich and Poor to be solved. The laws of accumulation will be left free; the laws of distribution free. Individualism will continue, but the millionaire will be but a trustee for the poor; intrusted for a season with a great part of the increased wealth of the community, but administering it for the community far better than it could or would have done for itself.

      for - quote / critique / question - Thus is the problem of Rich and Poor to be solved. The laws of accumulation will be left free; the laws of distribution free. Individualism will continue, but the millionaire will be but a trustee for the poor; intrusted for a season with a great part of the increased wealth of the community, but administering it for the community far better than it could or would have done for itself. - The Gospel of Wealth - Andrew Carnegie

      quote / critique / question - Thus is the problem of Rich and Poor to be solved. The laws of accumulation will be left free; the laws of distribution free. Individualism will continue, but the millionaire will be but a trustee for the poor; intrusted for a season with a great part of the increased wealth of the community, but administering it for the community far better than it could or would have done for itself. - The Gospel of Wealth - Andrew Carnegie - The problem with this reasoning is that it is circular - By rewarding oneself an extreme and unfettered amount of wealth for one's entrepreneurship skills creates inequality in the first place - Competition that destroys other corporations ends up reducing jobs - At the end of life, the rich entrepreneur desires to give back to society the wealth that (s)he originally stole - If one had reasonable amounts of rewarding innovation instead of unreasonable amounts, the problem of inequality can be largely mitigated in the first place whilst still recognizing and rewarding individual effort and ingenuity