Michael Medved: Wealth Poverty

Michael Medved Money Quote saying the idea that poverty must increase as wealth increases is a fallacy that hurts the image of believers. Michael Medved said:
 

 

“If you believe that when the rich get richer, the poor get poorer, then you believe that creating wealth causes poverty, and you’re an idiot” — Michael Medved

In this quote, Michael Medved seems to be criticizing the perspective that growing wealth inequality necessarily means the poor are becoming worse off. Specifically:

• Medved argues that believing greater riches for some automatically equates to more poverty for others implies a view that “creating wealth causes poverty.”
• He appears to believe this is a flawed and illogical position, suggesting it only makes sense if one believes wealth is a fixed quantity rather than something that can continually be generated through economic activity and trade.
• Medved states outright that subscribing to such a zero-sum view of wealth makes “you an idiot,” implying the person lacks a nuanced understanding of economics.

The best interpretation is that Medved is challenging the simplistic notion that any enrichment of the wealthy inevitably comes at the direct expense of the poor. From his perspective, the expansion of total wealth in an economy does not necessarily correlate with rising deprivation if that increased prosperity is broadly shared. However, his comment is also needlessly antagonistic in its delivery.

James Surowiecki: Behavioral Econ

James Surowiecki Money Quote saying smart economists know that we’ll pay handsomely to punish those who fail to give to the common good. James Surowiecki said:
 

 

“Behavioral economists have shown that a sizable percentage of people are willing to pay real money to punish people who are taking from a common pot but not contributing to it. Just to insure that shirkers get what they deserve, we are prepared to make ourselves poorer” — James Surowiecki

In this quote, James Surowiecki is summarizing a finding of behavioral economists. He states that research has shown many people are willing to pay out of their own pockets to punish or sanction those who benefit from shared resources (like a “common pot”) without contributing to them (“shirkers”).

Surowiecki then notes that people are even prepared or willing to make themselves financially poorer just to ensure those who don’t pull their weight (“shirkers”) receive their comeuppance. In essence, the quote suggests that behavioral studies have revealed people’s strong desire to see fairness and for freeloaders to face consequences, even if it costs themselves something in the process.

John le Carre: Care For Losers

John le Carre Money Quote saying Good societies care for those in need because the rich have only greed. The poorest must be properly cared for. John le Carre said:
 

 

“My definition of a decent society is one that first of all takes care of its losers, and protects its weak. What I see in my country, progressively over these years, is that the rich have got richer, the poor have got poorer. The rich have become indifferent through a philosophy of greed, and the poorer have become hopeless because they’re not properly cared for” — John le Carre

This quote from John le Carre presents a critique of a society that is failing to properly care for its most vulnerable members and growing increasingly unequal. He defines a “decent society” as one that protects the weak and takes care of “losers”, suggesting current society is moving away from this ideal.

Le Carre observes the rich accumulating greater wealth through “a philosophy of greed” while indifference, leaving the poor without adequate support and growing hopelessness. He implies a just society should prioritize equitable treatment and sufficient social protections for all, rather than allowing indifference and a lack of support to exacerbate inequality between the wealthy and disadvantaged.

Overall, the quote conveys le Carre’s view that a moral society is one that does not leave any members behind through indifference, greed or lack of assistance, but instead upholds equal dignity and basic welfare for citizens across all socioeconomic classes.

Birthday: October 19, 1931 – Death: 12 December 2020

Winston Churchill: Poor vs. Rich

Winston Churchill Money Quote saying causing the wealthy to suddenly become slightly less comfortable by taxing them will not solve the problem of poverty. He said:
 

 

“You don’t make the poor richer by making the rich poorer” — Winston Churchill

Winston Churchill seems to be arguing against the idea that wealth can be redistributed by excessively taxing the rich in order to help the poor.

His view appears to be that confiscating money from wealthy individuals and businesses through very high taxes does not actually improve conditions for those in poverty. Rather than increasing overall prosperity, such policies may end up reducing incentives for business growth and economic risk-taking that spurs innovation and job creation.

Churchill’s quote suggests the best approach is not to make the rich poorer via redistribution, but instead to cultivate broader societal and economic conditions that help lift the standards of living for the poor through more equitable participation in a thriving market system.

#NationalWinstonChurchillDay April 9 in 1963, Winston Churchill, Prime Minister of the United Kingdom during World War II, become an Honorary Citizen of the United States.

Birthday: November 30, 1874 – Death: January 24, 1965