So what makes the millions? To get from wherever you are in life to that fantasy lifestyle of having millions in the bank seems simple enough, have an idea. But really, the idea is point A, and there's a long line of points to get from point A to point Billionaire. It takes smarts, ingenuity and commitment to follow through on something that will reward you with millions, possibly billions, of dollars.
So, what does that say about me and most of the people I know who are all still a long ways away from +millionaire status? For me, I can say that I'm lazy and I give up quickly or get distracted easily. But deep down, I think this is what separates the haves and the have-nots: They enjoy making money more than the idea of having it. Most of my fantasies do not involve the countless hours of work it would take to acquire the money, I just think about what kind of ridiculous things I'd buy. Most of the smart and accomplished millionaires/billionaires continue to work while leading surprisingly quiet and humble lives, at least in relation to their wealth (look at Mark Zuckerberg and Warren Buffett).
I had dinner with a family friend a while back who came from a wealthy family but also worked very hard to acquire and increase his own wealth. After some changes in his professional career he found himself without work, but still very wealthy and in no need of a job. I told him it must be nice to just be able to play, relax and have the freedom of his wealth. He said to me that there was no fun in spending money if he wasn't working for it. Just having it wasn't satisfying.
Anyway, I hope no one thinks I'm equating wealth or professional accomplishments with happiness. It's not. Money makes many things in life easier, but it doesn't necessarily make you happier. It may bring you pleasure for a while, but that doesn't last. Enjoying your work and finding meaning in it is very good too and if you make a bunch of money, great. If you don't, it shouldn't make you any less happy.
G.K. Chesterton wrote "To be clever enough to get all that money, one must be stupid enough to want it." I already know my comment is going to be long... I've been grappling with my own issues with economics and ethics recently...so this post kind of sparked it up again.
ReplyDeleteIf billionaires simply enjoy the work, why keep wealth in excess of basic necessity? What is the purpose of the kind of wealth that the super-rich enjoy? And when will they have acquired "enough" money to be satisfied? I'd love to win the lottery or have money thrown at me for a stupid invention or website and maybe get a massive house and take extravagant vacations, but in the grand scheme of eternity I struggle with why I would work so hard to attain those things when I don't really need them.
I think it's somewhat of a disservice to those who are actually leading humble lives to consider Mark Zuckerburg and Warren Buffet among them. They may be modest among their extravagant peers, but not compared to the majority of people on the planet and certainly not compared to people who have abandoned wealth altogether to live humble lives. I watched a Mother Teresa documentary where the nuns were given a place in SFO by the diocese to live. The nuns asked that the carpets be removed as well as the heating and the AC because they said it was unnecessary and the people they were serving did not have such luxuries. We can't all be Mother Teresa, but holy crap there were a lot of unnamed women who will never be recognized by the world who joyfully worked beside her under the same circumstances.
I've been reading more about distributist economics (http://en.wikipedia.org/wiki/Distributism) and am very interested in worker cooperatives like Mondragon (http://en.wikipedia.org/wiki/Mondrag%C3%B3n_Cooperative_Corporation) which seem like more ethical alternatives.
I don't fault people for wanting or making a lot of money - I'd love it too - but you don't get that much money through plain hard work. There is a factor of luck... being in the right place, meeting the right people, being presented with the right opportunity at the right time, being born in a first world country... so it's difficult for me to admire wealthy people as a model of success. I find it much more challenging to realize how spoiled of a life I already live and to see that there are people who regularly make the choice to give it up. I know I couldn't do it.
Gah. I don't know. I have issues. I told you this would be long. Is it longer than your blog? Sorry =S
Very good points. Buffett and Zuckerberg are definitely exceptional individuals in the community of Billionaires, but I think Buffett and Bill Gates do recognize the futility of keep so much wealth. But to give it all away would also be irresponsible due to the opportunity it provides in gaining more to give away, right? I think that's the main reason they are pledging to give away half their wealth than more or some cowardly lesser degree.
ReplyDeleteI've heard of Distributism but from what little I've read about it, I thought it was just a rephrased iteration of Marx' Communist Manifesto. At least the part about sharing the wealth-making property. I think the heart of the problem is the assumption that there should be a single appropriate organization of economic/social systems. Obviously, some people thrive in capitalism and others in socialism and the opinions of those people in the other are often negative.
Anyway, thanks for you input. For what it's worth, I think you and Mike live a well-balanced life of pursuing and giving back.
Cheers!