Alfred Nobel: Inherited Wealth Misfortune
on Sunday, November 25, 2018Alfred Nobel Money Quote saying relatives shouldn’t get much inheritance be passed to his relatives. Alfred Nobel said:
“I regard large inherited wealth as a misfortune, which merely serves to dull men’s faculties. A man who possesses great wealth should, therefore, allow only a small portion to descend to his relatives” — Alfred Nobel
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This quote from Alfred Nobel suggests that vast inherited wealth can have a negative impact by reducing people’s motivation and ambition. Nobel seems to believe that when people inherit large sums of money, it removes some of the drive and necessity to work hard, learn new skills, and develop their talents fully. He implies that very wealthy heirs may not reach their full potential if they do not have to earn a living.
By leaving only a “small portion” of assets to relatives, Nobel appears to think people will be more likely to make their own way in the world and make the most of their abilities, rather than simply living off others’ fortunes. The best interpretation is that Nobel valued self-sufficiency and felt that extremely large inheritances could breed complacency rather than independence and achievement.
November 25, 1867 Swedish chemist Alfred Nobel patents dynamite
December 10 Nobel Prize Day