I noticed today in class that the issue of excessive wealth hit some nerves on both the social justice and economist side of the thought spectrum. Some people were offended by the notion that someone who works just as hard as an executive (or some other high earner) could be living in squalor while that single executive could have so much money that he doesn't know what to do with it. Others seemed offended by the thought that people could hold that executive in contempt for earning so much money. I just want to add my two cents. I've always wondered what compels someone who already has enough money to make it so that he'll never be want for anything ever again, to make more money. For example, David Beckham went to L.A. for more money, but how is that going to improve his life? Isn't the camaraderie of his own nation worth more to him personally than some article about the 12 wealthiest athletes or something? Yet, I meet so many people who see it as completely natural for someone to make a decision like that. All I can say is that there is something fundamentally flawed with the decisions people with lots of money make. I don't know why it is. I could guess that since they've been successfully making decisions to increase their wealth all their life, that's the only kind of decision they know how to make, but that would be a gross generalization, and is rather simplistic.
By greenhedge - Posted on 31 March 2008 - 2:28pm.