Intelligence? Talent? No, the ultra-rich got to where they're thru luck & brutality

Discussion in 'Economics' started by RewriteQuran, Nov 16, 2011.

  1. Just seems that the majority of them would have "average skills for their field", yet many/most get extraordinarily high pay.... which would be just fine if their money came solely from capitalistic pursuit. But when that compensation is often coming out of taxpayer pockets through bailouts, that's wrong.
     
    #21     Nov 16, 2011
  2. Butterball

    Butterball

    I doubt that is correct. All the independently wealthy I know became wealthy because they run or ran a business. None of them became rich by being an employee working for others.
     
    #22     Nov 16, 2011
  3. Illum

    Illum

    We have to deal with Pakis on the internet, just no way around it. All conversations in the past few years have degraded. They are in every forum, they pass themselves off as one of us, but they are not. Low Iq, bitter and of course preaching communism because of their lack of ability and understanding.
     
    #23     Nov 16, 2011
  4. Humpy

    Humpy

    Just because I would help a friend out , it doesn't mean everyone abides by that unwritten law I suppose.
    A little difficulty and one soon realizes who one's friends are.
     
    #24     Nov 16, 2011
  5. Humpy

    Humpy

    Let me guess ...........er .....um..........you are a racial bigot !

    Do I get a coconut ?
     
    #25     Nov 16, 2011
  6. rew

    rew

    Okay, I'll tell you. I work in a small company. My boss owns most of the company. He started it. He is smart, competent, and understands the somewhat arcane business we're in better than anyone else I know. He tries to do right by his customers and treats his employees fairly.

    He has more money than me. He deserves it.

    Here's your lollipop: O--- Now go home.
     
    #26     Nov 16, 2011
  7. Sigh...



    Everybody better than me at football is cheating when the referee isn't looking.

    Everybody better than me at Halo is hacking.

    Everybody better than me at Olympic fill-in-the-blank is on steroids or bribed the judges.

    Everybody with better grades than me is a teacher's pet or got the answer key in advance.

    Everybody getting laid more than me is slipping them roofies.

    Everybody wealthier than me stepped on the backs of the poor or merely got lucky.
     
    #27     Nov 16, 2011
  8. Long story short: Frat brother....very "cocky" as we called him, not that bright, went onto law school. Don't think anyone in the frat thought he would get very far. Clerked, finally ended up in a small firm with a partner. One day, after a year of hard work, landed the largest med malpractive award in our state. Instant Millionaire. Divorced his wife; got a lovely new wife. Kinda struggling ever since that big "win".

    Here is the question:
    Was that Luck or hard work ? This is a tough call....many lawyers would have given up on the case before it went to trial.
    However, if he was all that "good", he should have had similar wins after that, right ?
    He has not.
     
    #28     Nov 16, 2011
  9. Why not both? Why do they have to be mutually exclusive??

    He got lucky to get the case, then worked hard on it. But he does not have the persistence of a hard-worker most of the time. He saw his big opportunity and took it, but he's not motivated naturally to keep at it.

    On a different note, people with lots of money or in high positions also can also hire other people smarter than them (at least in different areas), so it can become easier.

    If someone is "ultra-rich" (legally) through their own hard work, then he or she won a damn hard race and deserve the accolades. If you start out with money (trust fund) then you get a head start on the other runners. You win, but it ain't so much about you anymore.
     
    #29     Nov 16, 2011
  10. It works the other way too. A true friend doesnt go begging another friend for money to help launch his new ketchup popsicle franchise that he is sure is going to be the biggest new trend.

    When you have money (or people think that you have money) its amazing how many people come out of the woodwork asking to "borrow" it.

    I've loaned money to lots of friends before. You know how many paid me back? Thats right...ZERO! Thats when you find out your true friends. I've found now that if I want to keep any friends that ask to "borrow" money, I better either say no, or give it to them and say its a gift.
     
    #30     Nov 16, 2011