...Wealth How does one become wealthy? Some people come into wealth by being patient and earning it; while others gain wealth through greed and knowledge. In the story Seneca he gained wealth by just being a great listener, and providing to someone he didn’t even know. On the other hand Columbus was greedy, and took from others to gain his wealth and gain wealth for others. Wealth is something that can turn a good person bad or even make people do bad things. In these two articles we see that wealth is displayed in two different ways, but regardless it is seen as a main factor in both. Of course fortune is something in my opinion and many others that should be earned not something that is taken from others. For example Gaqka in Seneca gained...
Words: 680 - Pages: 3
...Economic theory relates to wealth creation because economics is the study of human behavior, with a particular focus on human decision making. Wealth creation is impossible without good decision making. Wealth is generated when we are able to produce a surplus that exceeds what we need for survival. One main factor in the study of economics is the maintenance and transfer of wealth, which is an additional reason of why wealth creation is relevant to economics. According to a recent article in Forbes, wealth is created by, and morally belongs to the individual creator. I agree with this opinion. Wealth creation is beneficial for everyone that has a slice of the “economic pie”. For example, the creators invention may benefit the consumer by giving him an easier tool to use for his job, which would allow him to get more done at once, then in return would be profitable for both the creator and consumer. The opinion in Forbes magazine correlates with the text book in the sense that they both state that economic goods are the result of human ingenuity (p.34). A real-world example of wealth creation would be Apple, Inc. Steve Jobs created a series of profitable products that in return benefit the consumer by making tedious daily tasks seamless. Just as the text states, “A larger income for one person does not mean a smaller income for a trading partner.”( Gwartney,Stroup,Sobel,Machperson p.34)The economic pie expands when we all earn income, which makes it easier for everyone to...
Words: 413 - Pages: 2
...Wealth and power have a large impact on sports. Athletes seem to need great power and strength when it comes to competing. The salaries of the athletes are over the top outrageous. This causes some of them to begin to care more about the money and less about the sport. This often leads to bad behavior like gambling and other illegal acts and they soon become bad role models to the people who idol them. Sports started off as an innocent form of physical form of physical recreation and has been manipulated and influenced by people with more money and power than others. Sports are a distraction from your everyday life, more like a stress reliever for many. True social functions that consist of sports help can help society function better, but the perks of the higher society having better access and more money to sponsor or facilitate the events opens the door to manipulation. Many of the fan, athletes, and imagined communities own or have invested in the places that house the sporting events, and are allowed favoritism. Conflicts between parents arise about a bad call or favoritism being shown to one child over the other. When it comes to decision making time of who is right or wrong, if the person of authority is close to one family and have money tied up in the place, who do you think the person is going to side with? You are right, the person who has the ability to keep the place open. Wealth and power does have a huge impact on any person involved in the sports events...
Words: 399 - Pages: 2
...11/13/12 Argumentative essay The speech by King Lear mentions that the wealthy don’t have to follow the common rules of justice for they are protected by their wealth which entitles them to be overlooked, while the poor have to fall to every hardship in justice and there wrongs are obviously seen and ridiculed. While some people may believe this others may not. Celebrities are put in the wealthy part of the society and believed they can do whatever they want. In the news you will hear about celebrities getting arrested for drinking and driving or even doing drugs. These people though they are not sent to jail they are sent to rehab. If someone that was poor was to be arrested for drinking and driving they will go to jail no thought about even possibly going to rehab. Now why is that, because they are able to afford going to rehab and they can hire lawyers that aim for it. They use their money to get what they want; celebrities don’t want to go to jail. Poor people though don’t want to go to jail also, but they don’t have a choice because they can’t afford to go to rehab. Celebrities use their money to get out of the rightful justice. It not only celebrities that use their money to get out of the correct justice, you never hear about lawyers or judges going to jail or even getting in trouble. Why is that? They can’t be perfect and never get in trouble, but lawyers and judges make money so is possible to just pay off individuals for your crimes and make people believe that...
Words: 510 - Pages: 3
...Distribution of Wealth? Wealth has affected american society and evermore has affect the fabric of families. Has the distribution of wealth gotten so out of control that the effect will reverberate for generations to come and as a society can we do something about it. When we were tasked to write this final research paper on one of the topics from the discussions over the past semester i knew that i had to do a topic that i had dealt with on some personal level even know i have experienced many of the topics over the last semester the one that spoke to me the most is the distribution of wealth because of the simple fact that in my core family unit there is a gap in the distribution of wealth with me now below the poverty line my mother and father who i live with who are apart of the middle class and my birth father who is of the upper class in this paper i will uncover the differences and the similarities between these classes also is it fair that some have all and some have none and will the government do or should not do anything with the situation as well as the themes of what can change and how people feel about the situation at hand and how much is enough and why is it not enough and does the level of wealth make us happy i will also discuss these topics in interviews with my family. In a study conducted by the American psychological association they posed a question money can’t buy happiness? and in reading the article which puts poignant questions to people who make...
Words: 1478 - Pages: 6
...Wealth & Power in America Name Institution Wealth & Power in America 1. In your opinion, who has political power in the United States? Who lacks it? Why? The congress has the political power in the United States. This is because the congress is entitled to writing the laws. The government and the president do not have the political power in U.S. The president is only entitled to signing the laws made by the congress. The Supreme Court, on the other hand, only decides whether the made laws are constitutional or not (Barret, Stokholm, & Burke, 2001). The wealth and the rich also have immense political power in U.S. 2. What is your opinion of the "American Dream" and the idea that anyone can work hard and succeed? “American Dream” refers to a concept that argues that people can lead happy and successful lives if they embrace the need to work hard. It also argues that freedom, meaningful relationships, and a person’s fulfillment can be achieved if a person works hard. However, in my opinion, not all people can achieve the goal of this dream. This is attributed to the society-structure of the United States. People live in varying social classes, ethnicity, and religion. This different structure of the American society hinders the achievement of this dream (Barret et al., 2001). Some people face a lot of discrimination in the workplaces. Discrimination, in most of these workplaces, is based on one’s color and background ethnicity. Such people are denied job opportunities...
Words: 1012 - Pages: 5
...The industrialist, Andrew Carnegie wrote a book called “The Gospel of Wealth” in 1889. In the excerpt Carnegie goes on to talk about the 3 ways of partitioning money if one is wealthy. One way is giving to descendants. An example of this is during the time period when there were hierarchies and, levels of government such as king and queen. The wealth was given from the current generation to the next generation. This ultimately spoils the child and does not allow the child to do any type of work for money. There are rare cases where the kid is not spoiled and uses their fortune in services. Another way of using money if one is wealthy is giving the money back to the community. This is usually done when the wealthy citizen is dead. This is not...
Words: 288 - Pages: 2
... INTRODUCTION I. Financial inequality is greater now than it has been at anytime in the last century, and the gaps in wages, income, and wealth in America, are wider here than they are in any other developed economy. II. THESIS STATEMENT: Wealth inequality in the USA does not allow those living in poverty to climb out and join the middle class, and keeps most wealth, power, and privilege in the hands of a select few. (Transition History} BODY I. After the Stock Market Crash of 1929, the gap between the rich and the poor began to narrow. (Borrow, pg. 167) A. The current rise of inequality in America can be traced back to 1979. B. Wages still differed greatly between the upper- and working-classes. 1. Unequal educational opportunites 2. Inherited wealth means unequal distribution 3. Discrimination (Race, gender, sexuality) 1. According to the Pew Research Center, the top 7 percent of all U.S. households own 63 percent of all the wealth in the country. According the U.S. Census buruo are living in poverty. That is a brand new all-time record high. (Transition: How?) II. Owning a home, then equal pay for equal work, and then having a college degree are the three factors that can make the biggest difference in closing the wealth gap A. Working towards goals such as education and home ownership will help people living in poverty bridge the gap between the wealthy ...
Words: 358 - Pages: 2
...Often in society, an upsurge in wealth, power and prestige is accompanied by an upsurge in arrogance, and egotism. In prerevolutionary China, wealth is perceived as one of the more important ideals in society, and it is something that multitudes of people get caught up in. The cliché, “wealth does not equal happiness”, is often ignored, and money, social class, and power are the only things people associate with success. Through reading The Good Earth, by Pearl S. Buck, one may find a major theme that is present throughout the novel, is that wealth could erode traditional values. This is proven by Wang Lung’s experiences in the novel, for as he grew in prestige and wealth, his original values, such as his ardent attachment to the land, his...
Words: 971 - Pages: 4
...THE RELATION BETWEEN WEALTH AND HAPPINESS A1: The articles The Sandra Bullock Trade and But Will It Make You Happier? both dis-cuss the relation between wealth and happiness, and it doesn’t require much to figure out, that these articles agree that happiness doesn’t depend on wealth in general. But as The Sandra Bullock Trade nearly refuses any connection between the two and even states that “if you have an unsuccessful marriage (…) you will remain significantly unfulfilled” (p. 2), But Will It Make You Happier? points out that even though happiness isn’t dependent on income, your buys will influence your mood. The Sandra Bullock Trade acknowledges that poor people are generally unhappier, but the article also claims that as long as your basic needs are fulfilled, money makes no difference. This is probably the biggest disagreement between the articles, as But Will It Make You Happier? is somewhat more capable of differ-entiating the dilemma. Instead of just having a one-tack mind, the article focuses on both the pleasure that money can bring, but it also declares how we are more likely to find joy when we buy social activities than when we buy material objects. A2: The Sandra Bullock Trade catches your attention from the very beginning. The headline itself makes you want to read it, because a celebrity like Sandra Bullock is a person that will instantly catch your attention whether you want her to or not. Another means, which The Sandra Bullock Trade uses, is to turn...
Words: 742 - Pages: 3
...The Wealth of Nations Chapter I – Of the Division of Labour Summarize: Division of Labour is thought by Smith to increases Wealth of Nations. Increase in skill, dexterity and productivity of labor is most affected by DOL. The idea of the division of labour relates primarily to the specialization of the labor force, basically the breaking down of large jobs into many tiny components. Under this system each worker becomes an expert in one isolated area of production, thus increasing his efficiency. The fact that laborers do not have to switch tasks during the day further saves time and money. By allowing machines to step in to help with the production, the operation will be simpler and make into routine. Machines make production process speeds up its level and produce goods faster. Argumentation: The audience that the author was writing for were capitalists. This is supported by the writer's suggestions in the article. Adam Smith suggests that manufactures should divide its labor force into obvious groups. Each of them should do different operation instead of having a single worker doing all of the operations by himself. The main focus of Adam Smith's The Wealth of Nations lies in the concept of economic growth. The only factor that he mentions that effects the growth is the supply of labor. However, in modern economics, other factors such as land, capital, technology, knowledge, and etc. also influence the productivity of the labor, therefore, the wealth of the nations...
Words: 725 - Pages: 3
...faces today is the wealth inequality that is spread throughout the country. The rich are getting richer and the poor are getting poorer. How can this be solved? Why is it happening? What can I do to help? These are all questions that are asked far too often. It is said, on this topic, particularly speaking of the poor, that, “"The poor in America deserve to be poor because it is the result of choices their choices. They spend money poorly, they don't study in school, and they do not have the discipline needed to succeed." This statement sparked a lot of interest in me and really got me thinking. Do poor people really deserve to be poor? Is it really their own fault? Those are both bold statements – and I disagree completely with them both. The poor are getting poorer for the same reason people become poor in the first place: they are in a hole that is too deep to climb out of. If you ask any child if they want to be rich or poor when they grow up, 99% of them will reply by saying they want to be rich. No one wants to be poor! So why do people end up that way? I think it is because they don’t have the opportunity to become wealthy. I think a lot of the time it is because of the family that they are born in to. If your parents cannot afford to send you to a good high school...
Words: 594 - Pages: 3
...Wealth Disparity: Is Wealth Distribution a Problem? Wealth disparity is a phenomenon between the wealthy and low-income that defines us by our net worth; assets minus liabilities. The accumulation of wealth of the top one percent, can account for nearly forty six percent of global household wealth. In countless articles, it has been proven that the disparities of wealth have affected not only your country, nation, or community, it is affecting everyone, everywhere. The effects of this wide ranged gap of wealth have not been without consequences. By studying families’ income, social backgrounds, age, sex, and racial/ethnic groups, it has been concluded that these consequences have a negative effect on low-income families. Some state that the...
Words: 1684 - Pages: 7
...Greed & Wealth Swift’s has written an essay titled “Swift” that gives a very nice and detailed “proposal” of an issue that he has found evident in the community of those individuals. One of the issues that Swift speaks about is about being of a social one that affected many of the commonwealths throughout their community. Swift brings into the discussion is that both the social and economic issues of the children of the poorest individuals are being a burden to society in general as a whole. This part of the discussion would include the country, the public, and even the children’s parents as well. The cause of these negative thoughts and issues is that the poorest families being described do not have any incoming money or any means of income to feed these...
Words: 1419 - Pages: 6
...warns that the love of riches leads men further from the Kingdom of God and into a false idolization of wealth. This monetary worship pulls man away from God, and tears the seams of brotherhood that bond men together. Today, this bond between men has never been so frail and apathy has never been so vigorous. Millions of people die every year from preventable causes, including hunger, disease and countless other conditions, all derived from poverty. At the same time the richest 80 billionaires have the finances to solve world hunger, substantially increase the prevention of AIDS and effectively eradicate malaria. Wealth in itself is not evil; however, when humanity places riches above its fellow humans’ lives, it has reached a sinful state. The world has accepted material wealth at the price of what has become a sacrificial morality and love for mankind. The goal of this paper is to prove that global trends of economic inequality are unjustifiable from an economic/social standpoint, Scripture, and the recent position of the Catholic Church. Financial inequality is no new concept to the world. Since the beginnings of civilization there were the rich and there were the poor; many would argue that this is the natural state of society. From the Roman Empire until today, there has been a gap between the two segments. While almost all major religions warn man of the dangers of wealth and support charity, this gap between rich and poor has never been eradicated. Even so, all modernized...
Words: 3323 - Pages: 14
