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The dynamics of capitalism put wealth into the control of its wisest custodians - frugality being defined as among the wise virtues in this context. For those

The dynamics of capitalism put wealth into the control of its wisest custodians - frugality being defined as among the wise virtues in this context. For those who argue that democratic government is the wisest custodian, e.g. there is estate taxation and government redistribution and investment.

crimsonalucard 11y ago
Are you saying rich people are wiser than poor people therefore they deserve to be rich? Capitalism made Justin Bieber rich. This makes him a wise custodian of wealth. Not only is my previous statement wrong, but so is yours.
- SlipperySlope 11y ago
  Capitalism does not entail that the wealthy deserve what they have, only that if they are not wise with respect to their wealth they will lose it. With regard to Mr. Bieber, or celebrities/sports stars in general - there are many foolish ways for them to lose their wealth and only a degree of frugality, i.e. living within their means, will preserve it.
  - crimsonalucard 11y ago
    Sure and I agree with your first sentence and second sentence, but I don't think you're understanding what I'm trying to communicate. The loaded term "wise custodians" as if rich people are benevolent caretakers of the world's wealth due to their infinite wisdom is what I'm attacking here. It just simply isn't true. Justin Bieber is full proof of that. The guy is not wise, he's not a benevolent custodian either. Wealth is not magically redirected towards smart caring people. You are not a "wise custodian" because you are rich. You will always have stupid people who are rich and smart people who are not rich.
- dylanjermiah 11y ago
  People who have earned great amounts of wealth do not get it by stealing it, they provide a product or service in which others choose to purchase. The more people which the product or service provides value to the more wealth the person will make. Like him or not, Justin Bieber has proved valuable to quite a large sub set of the population.
  - crimsonalucard 11y ago
    I never accused rich people of being thieves. I didn't say Justin Bieber stole his wealth. Justin Bieber is not a wise custodian of wealth. Wealth is not magically redirected away from stupid people towards smart people is all I'm saying. Many smart people are not rich, just like how many people who are rich are also stupid. The loaded term "wise custodians" as if rich people are benevolent caretakers of the world's wealth due to their infinite wisdom is what I'm attacking here. I would say, if placed under equal circumstances, the intelligence and benevolence of rich people is more or less the same as all people in general. We should be in agreement on that.
    - dylanjermiah 11y ago
      My mistake, the parent commenter was incorrect. Wealth goes to those who provide value to other people. (in a free market).
      - cactusface 11y ago
        But a person of great value (read: someone who provides great value) depends on many people of lesser value, and so on and so forth, in order to provide that value.
        dylanjermiah 11y ago
        >depends on many people of lesser value They do not. A person of great wealth can purchase a good or service from a person of less relative value. Otherwise, I don't understand what you're saying?
        cactusface 11y ago
        The person of lesser value has to provide the value to the person of greater value, in order for the person of greater value to be able to provide their greater value to the world at large. Thus the person of greater value depends on the person of lesser value. Even in simple terms, it's likely that a person of lesser value than you made your underwear, but you still need that person so that you can make all the the money you do being more valuable to the world than them. Or from another perspective, all wealth is relative, which means you cannot have great wealth without great poverty.
crimsonalucard 11y ago
Calling rich people "wisest custodians" of wealth really got to me. What a self serving statement. I urge you to watch this video, your comment compelled me to find it: http://www.ted.com/talks/nick_hanauer_beware_fellow_plutocrats_the_pitchforks_are_coming/transcript?language=en http://www.ted.com/talks/nick_hanauer_beware_fellow_plutocra...

crimsonalucard 11y ago

Are you saying rich people are wiser than poor people therefore they deserve to be rich? Capitalism made Justin Bieber rich. This makes him a wise custodian of wealth. Not only is my previous statement wrong, but so is yours.

SlipperySlope 11y ago
Capitalism does not entail that the wealthy deserve what they have, only that if they are not wise with respect to their wealth they will lose it. With regard to Mr. Bieber, or celebrities/sports stars in general - there are many foolish ways for them to lose their wealth and only a degree of frugality, i.e. living within their means, will preserve it.
- crimsonalucard 11y ago
  Sure and I agree with your first sentence and second sentence, but I don't think you're understanding what I'm trying to communicate. The loaded term "wise custodians" as if rich people are benevolent caretakers of the world's wealth due to their infinite wisdom is what I'm attacking here. It just simply isn't true. Justin Bieber is full proof of that. The guy is not wise, he's not a benevolent custodian either. Wealth is not magically redirected towards smart caring people. You are not a "wise custodian" because you are rich. You will always have stupid people who are rich and smart people who are not rich.
dylanjermiah 11y ago
People who have earned great amounts of wealth do not get it by stealing it, they provide a product or service in which others choose to purchase. The more people which the product or service provides value to the more wealth the person will make. Like him or not, Justin Bieber has proved valuable to quite a large sub set of the population.
- crimsonalucard 11y ago
  I never accused rich people of being thieves. I didn't say Justin Bieber stole his wealth. Justin Bieber is not a wise custodian of wealth. Wealth is not magically redirected away from stupid people towards smart people is all I'm saying. Many smart people are not rich, just like how many people who are rich are also stupid. The loaded term "wise custodians" as if rich people are benevolent caretakers of the world's wealth due to their infinite wisdom is what I'm attacking here. I would say, if placed under equal circumstances, the intelligence and benevolence of rich people is more or less the same as all people in general. We should be in agreement on that.
  - dylanjermiah 11y ago
    My mistake, the parent commenter was incorrect. Wealth goes to those who provide value to other people. (in a free market).
    - cactusface 11y ago
      But a person of great value (read: someone who provides great value) depends on many people of lesser value, and so on and so forth, in order to provide that value.
      - dylanjermiah 11y ago
        >depends on many people of lesser value They do not. A person of great wealth can purchase a good or service from a person of less relative value. Otherwise, I don't understand what you're saying?
        cactusface 11y ago
        The person of lesser value has to provide the value to the person of greater value, in order for the person of greater value to be able to provide their greater value to the world at large. Thus the person of greater value depends on the person of lesser value. Even in simple terms, it's likely that a person of lesser value than you made your underwear, but you still need that person so that you can make all the the money you do being more valuable to the world than them. Or from another perspective, all wealth is relative, which means you cannot have great wealth without great poverty.

crimsonalucard 11y ago

Calling rich people "wisest custodians" of wealth really got to me. What a self serving statement. I urge you to watch this video, your comment compelled me to find it: http://www.ted.com/talks/nick_hanauer_beware_fellow_plutocrats_the_pitchforks_are_coming/transcript?language=en http://www.ted.com/talks/nick_hanauer_beware_fellow_plutocra...