William H. Gross at Expense of Labor
on Saturday, November 2, 2013William H. Gross Money Quotation saying in his investment letter for bond fund PIMCO, that he feels guilty for earning at expense of the working man and labor. William H. Gross said:
“Having gotten rich at the expense of labor, the guilt sets in and I begin to feel sorry for the less well-off” — William H. Gross
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William H. Gross seems to be referring to how he accumulated wealth by running a business that relied on paid labor. However, at some point he begins to feel guilty because his own financial success was achieved in part by paying workers less than what their labor was truly worth. As a result, many of these workers were “less well-off” than him.
So Gross is acknowledging that his riches came at the relative expense of his employees, and this realization triggers feelings of remorse and sympathy for those who helped make him wealthy but did not share equally in the profits and rewards of the business.