To make it into the richest 1 percent globally, all you need is an income of around $34,00.
Perspective!
Tag: wealth
Charles Murray on the New American Divide – WSJ.com
Places to live in which the people around you have no problems that need cooperative solutions tend to be sterile. America outside the enclaves of the new upper class is still a wonderful place, filled with smart, interesting, entertaining people. If you’re not part of that America, you’ve stripped yourself of much of what makes being American special.
Without the perks, plain ol’ fame and fortune just ain’t worth the trouble.
Marginal Revolution: Does the well-off law professor have cause to complain?
Tyler Cowen: “Doesn’t everyone who might suffer a loss have a potential claim to complain? At what percentile of wealth does your claim to complain go away or diminish?” And also: “Beware of moral arguments which do not address ‘At which margin?’”
Marginal Revolution: Does the well-off law professor have cause to complain?
“And, anyway, money is not the only ingredient; to have subsidized a Bach, or Fulbrighted a Beethoven would have done no good at all. Money may kindle but it cannot by itself, for very long, burn.” —Igor Stravinsky
A worthy bit from The Disadvantages of an Elite Education:
The opportunity not to be rich is one of the greatest opportunities with which young Americans have been blessed. We live in a society that is itself so wealthy that it can afford to provide a decent living to whole classes of people who in other countries exist (or in earlier times existed) on the brink of poverty or, at least, of indignity. You can live comfortably in the United States as a schoolteacher, or a community organizer, or a civil rights lawyer, or an artistÄîthat is, by any reasonable definition of comfort. You have to live in an ordinary house instead of an apartment in Manhattan or a mansion in L.A.; you have to drive a Honda instead of a BMW or a Hummer; you have to vacation in Florida instead of Barbados or Paris, but what are such losses when set against the opportunity to do work you believe in, work youÄôre suited for, work you love, every day of your life?
“As unseemly as it is for America’s wealthiest people to strive for more money, America’s political class is far worse. They have a ridiculous excess of power, and yet they only want more.”
Mark Larson 