Abraham Lincoln: Law Prevents Getting Rich

Posted by admin on Thursday, August 4, 2016

Abraham Lincoln Money Quote saying there should be no legal recourse against those who seek wealth – it could be more than harmful. Abraham Lincoln said:
 
Some will get wealthy. I don't believe in a law to prevent a man from getting rich; it would do more harm than good Quote
 

“Some will get wealthy. I don’t believe in a law to prevent a man from getting rich; it would do more harm than good” — Abraham Lincoln

 

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Lincoln believed that preventing wealth accumulation through laws would do more harm than good for a few key reasons:

  1. It would limit individual freedom and entrepreneurship. People should have the freedom to pursue wealth through legal means without government restrictions.
  2. Such laws could be difficult to implement and enforce fairly. It would be hard to determine what level of wealth is “too much” and prevent people from accumulating further wealth.
  3. Banning wealth accumulation could discourage innovation and risk-taking that leads to economic growth. Many wealthy people invest in new businesses and technologies.
  4. Lincoln had faith that a free market economy where people are able to benefit financially from their work and ideas is best for long-term prosperity overall. Some individuals getting wealthy does not inherently harm others.

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