Economics 1776 Lecture Notes - Lecture 12: Harvard Art Museums, Social Gospel
18 Jun 2018
School
Department
Course
Professor
Office&Hours&tomorrow&2-3&pm&(or&email&ahead&of&time)&-- Fogg&Museum&Café
Is#there#a#moral#obligation#to#get#rich?
Or&at&least&to&try&to&get&rich
•
Wealth&does¬&necessarily&mean&monetary&wealth&-- knowledge&could&be&
wealth
•
Smith&and&Mandeville&-- private&pursuit&of&wealth&could&have&public&benefits
•
Christianity&and&the&social&gospel&movement
○
Desire&to&get&rich&could&stem&from&a&charitable&inclination&(religious&side)
○
Social&benefits&to&individuals&becoming&wealthy&and&providing&charity
•
Wealthy&have&a&moral&obligation&to&be&charitable
•
Wealth&allows&for&philanthropic&activity
○
Without&philanthropic&activity,&the&individual&pursuit&of&wealth&always&
brings&with&it&social&benefits
○
Yes,&there&is&a&moral&obligation&to&get&rich,&or&at&least&to&try&and&get&rich
•
Duty&=&moral&obligation,&religious&beliefs&or&otherwise
○
No&duty&to&get&rich
•
Duty&to&get&rich&on&individual,¬&communal,&level
•
Runs&counter&to&each&other&in&modern×
○
No&connection&between&wealth&and&morality
•
Wealth&itself&has¬hing&to&do&with&these&moral&values
○
What's&at&stake&is¬&the&end&goal&of&being&wealthy,&but&the&hard&work&
that&goes&into&that&process
○
Process&of&hard&work/pursuing&wealth&rather&than&the&outcome
•
Duty&to&get&rich&to&use&those&riches&to&help&others?&No&proof&that&individuals&will&
be&benevolent&or&use&their&wealth&for&non-selfish&purposes
•
The&duty&we&should&be&emphasizing&is¬&to&improve&one's&position,&but&
what&one&will&do&with&those&riches&and&wealth
○
How&does&this&duty&to&get&rich&amount&to&an&obligation,&if&they'll&do&it&anyways?
•
Communities&always&benefit&from&being&wealthier
§
Could&a&community&be&better&off&if&it&had&less&resources&to&work&
with?
§
Counter&to&many&economic&thinkers,&like&smith…
○
By&pursuing&wealth,¬&just&material&wealth,&through&your&own&actions&
where&the&pursuit&may¬&be&strictly&economic,&still&considers&this&a&
pursuit&of&wealth
○
If&poverty&isn't&good&for&society,&then&there&must&be&some&moral&
obligation&to&get&rich
○
Conwell:&the&money&itself&is¬&the&evil,&but&certain&attitudes&towards&
○
Rockefeller:&despite&his&philanthropy,&his&railroad&was&even&more&
important
○
How&attainment&of&wealth&ultimately&benefits&society?•
Being&rich:&state&of&having&a&lot&of&money
○
Wealth:&(McVicker):&the&state&of&having&to&satisfy&some&of&your&desires
○
Need&clarity&on&the&relationship&between&Wealth&vs.&being&rich•
Should&people&be&striving&to&be&even&richer?•
Philanthropy•
You&can't&obtain&a&large&amount&of&money&without&loving&it&somewhat•
In&a¤t&society,&you&do¬&have&an&obligation&to&make&more&money•
11/15/17
Wednesday,& November& 15,&2017
11:04&AM
Document Summary
Office hours tomorrow 2-3 pm (or email ahead of time) -- fogg museum caf . Or at least to try to get rich. Wealth does not necessarily mean monetary wealth -- knowledge could be wealth. Smith and mandeville -- private pursuit of wealth could have public benefits. Social benefits to individuals becoming wealthy and providing charity. Desire to get rich could stem from a charitable inclination (religious side) Wealthy have a moral obligation to be charitable. Yes, there is a moral obligation to get rich, or at least to try and get rich. Without philanthropic activity, the individual pursuit of wealth always brings with it social benefits. Duty = moral obligation, religious beliefs or otherwise. Duty to get rich on individual, not communal, level. Runs counter to each other in modern times. Process of hard work/pursuing wealth rather than the outcome. Wealth itself has nothing to do with these moral values.
