Do smart people get rich? (bankrupt, sell, cost, paying)
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I see your point. There are reasons why it should not be a moral issue.
Nevertheless, a large number of people believe that extreme wealth is immoral (trying to justify why they are not wealthy.)
I believe to a certain extent that extreme wealth is immoral. And there are different opinions on what extreme wealth is. But, when you look at most extremely wealthy individuals, you have to look at how they got their wealth. It's not like they got wealthy curing cancer, eradicating world hunger, or providing shelter for everyone on earth.
Let's look at Jeff Bezos. Extremely wealthy. How did he get there? We've read a number of articles talking about employees, white color and blue collar, being worked to death. Literally. People dying on the warehouse floor. Or, how about the countless municipal tax breaks? And that god awful display of greed during that HQ2 fiasco.
How about the Waltons? Wal-Mart destroyed small local businesses. People employed at Wal-Mart made so little, they still needed public assistance.
Oil families. Polluted and STILL pollute the air and water from their plants in the Deep South.
Some hedge fund managers. 2008 anyone? And to this day, they still gamble and manipulate the market. Extracting billions from not only the market but from taxpayers. To pay themselves 10 million dollar bonuses.
Lastly, for one or a few person to become so wealthy, the money has to be extracted from other people. Rich people aren't getting wealthy off of rich people.
To me, most of the extreme wealthy are in a sort of get it while you can mentality. They have so much wealth. But they don't stop. They just keep on accumulating it. Why? Their great great grandchildren couldn't even spend it all.
Just my opinion. I think there is a limit. I mean how many houses, cars, yachts, etc. does one person really need. I'll even give them jets, supercars, and three houses. But some has houses all over the world.
I believe to a certain extent that extreme wealth is immoral. And there are different opinions on what extreme wealth is. But, when you look at most extremely wealthy individuals, you have to look at how they got their wealth. It's not like they got wealthy curing cancer, eradicating world hunger, or providing shelter for everyone on earth.
Let's look at Jeff Bezos. Extremely wealthy. How did he get there? We've read a number of articles talking about employees, white color and blue collar, being worked to death. Literally. People dying on the warehouse floor. Or, how about the countless municipal tax breaks? And that god awful display of greed during that HQ2 fiasco.
How about the Waltons? Wal-Mart destroyed small local businesses. People employed at Wal-Mart made so little, they still needed public assistance.
Oil families. Polluted and STILL pollute the air and water from their plants in the Deep South.
Some hedge fund managers. 2008 anyone? And to this day, they still gamble and manipulate the market. Extracting billions from not only the market but from taxpayers. To pay themselves 10 million dollar bonuses.
Lastly, for one or a few person to become so wealthy, the money has to be extracted from other people. Rich people aren't getting wealthy off of rich people.
To me, most of the extreme wealthy are in a sort of get it while you can mentality. They have so much wealth. But they don't stop. They just keep on accumulating it. Why? Their great great grandchildren couldn't even spend it all.
Just my opinion. I think there is a limit. I mean how many houses, cars, yachts, etc. does one person really need. I'll even give them jets, supercars, and three houses. But some has houses all over the world.
Wealth is not "extracted" from other people, people willingly spend their money where they want to, is most convenient or less expensive. People are dying on the warehouse floors all over the country, but somehow only at Amazon is it an issue. Just don't buy at Amazon or Walmart if that is your desire or belief but don't act like others are immoral for doing so - people get to make their own choices.
This really has little to do with the topic though.
Think back about the people you have known who you thought were really smart. Schoolmates, co-workers, casual acquaintances, etc. How many of those people became, or are becoming, rich? No cheating, by thinking of rich people first and then thinking they must have been smart.
I suspect several on my list might have gone to prison. One became an oil engineer, then cattle rancher. One became a small-town lawyer. One an evangelist preacher. One a well-known TV commentator,one who who lived on political appointments and drove an old car, the last two were both Rhodes Scholars.
It could certainly be argued the people you describe weren't 'really smart' after all i.e. it's based in re: nothing more than your opinion at the time, particularly relative to 'schoolmates' and 'casual acquaintenances'.
Location: On the "Left Coast", somewhere in "the Land of Fruits & Nuts"
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Quote:
Originally Posted by luv4horses
Money isn’t always the holy grail for smart people. Most want to be comfortable but to make a useful discovery or solve a unique problem or provide some benefit to the earth or its inhabitants. Money can help them to do this sometimes but often a lot of that funding is provided by those who share their quest.
On the other hand there are some rich people who aren’t particularly smart but they stay rich. Their parents and grandparents gave them money to have or invest successfully and as long as they aren’t too goofy they can hold on to that for a while, even growing it. Luck and good advice or instincts play a roll.
Then there are the opportunists. They are just smart enough to get rich by trickery or crime, bypassing conventional law, ethics, or morality. Gotta watch out for those rich guys.
That's a good point, not everyone, including the 'bright' folks, is necessarily interested in 'making money', at least beyond their needs and other 'goals' where it's often simply another 'tool'. And can think of a couple Mensa types I've known, both basically artists, but who late in life also decided to apply their creativity and analytical savvy to real estate and day trading. But they soon acquired other 'interests' instead, as soon as they reached comfortable retirement and their intended 'goal'.
Many highly intelligent people, just have no interest in accumulating wealth.
If wealth makes one's life easier/more enjoyable (or even if they wish to donate most of it or retire early), why would someone who was intelligent enough to accumulate wealth - choose not to? :-)
Location: On the "Left Coast", somewhere in "the Land of Fruits & Nuts"
8,852 posts, read 10,451,396 times
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△ Dunno that wealth is 'unimportant', though perhaps not everyone agrees that it's the only thang in life... let alone whether simply acquiring it is always the 'best', 'happiest', or most meaningful use of their particular lives and abilities?
I think it’s flawed to think of the people you grew up with as “smart” anyways. There could have been the smartest kid in your small school or classroom of 30 kids, but it’s all relative. It’s like a 15 year old who thinks they’re great at basketball because they’re “all conference” and can run everyone out of the gym.
There’s people a hell of a lot smarter (and more athletic…creative *insert attribute here*) than you, you just haven’t met them yet. You will in college or the work world and you’ll see the treadmill of competition.
If I were to compare to the area I grew up in, my education, career, income, and net worth by this age are easily top 1% if not top .1%…but is that really the mark I want to be measured against?
“Rich” and “smart” is all relative.
If you’re the smartest person in the room, it’s time for a new room and all that….
Last edited by Thatsright19; 08-06-2021 at 01:00 PM..
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