Money

I don't know much about economics and never did --it's an area of knowledge that has lived up to its reputation as a dismal, arcane science. It's not only economics -- I don't even understand money, which has become more ethereal and symbolic during the course of my lifetime.

In my first real job, at Sears, Roebuck during the now-historical 1950s, I was handed, come Friday at 4:00pm, an envelope containing a few bills and coins. Money as I understood it.

A guy had bills in his wallet and put some in the bank and blew some on CrackerJacks at Ebbets Field. 

 

 

That was before credit cards and electronic transfers and bitcoins, whatever they are. Of course I understand that money is not just currency. It's a mysterious commodity -- much prized, but  also the root of all evil. It has no value until you spend it, and then, once you spend it, you don't have it. The monetary value of things is often inversely proportionate to their utility: diamonds, pearls, paintings. To have money in the bank gives you a sense of security. Then you die. 

Most people have way too little money, but some people have more money than is necessary and more than is good for their souls. I'm enthusiastic about taxing wealth. Let's say a guy has $100,000,000. Suppose there's an annual 2% wealth tax and he has to contribute $2,000,000 a year to promote the general welfare. How is he harmed?  He now has $98,000,000. What can you do with $100M that you can't do with $98M? And moreover, how incompetent must you be if you can't make your $98M generate a few million and restore you to $100M. You can do good and still stay rich -- what a blessing!

In my opinion, many Americans think about wealth and money incorrectly. They're like the Johnny Roccos who always want "more." I was fortunate to be taught by my father, who explained to me that "no one owns anything. The most you can say is that you have a lifetime lease." He believed in this maxim even though he spent his life negotiating real estate deals. He wasn't much concerned with money and it didn't seem to harm him a bit. He had enough, and "enough is as good as a feast."

To me, wealth means very little, but standard of living means a great deal. My standard of living is very high because my town has an excellent public library and a thriving public school system. And fine mountain trails and other recreational possibilities. These amenities aren't "mine" -- they're not money in my personal bank. But they contribute immensely to my standard of living.

What would improve my standard of living? That's an easy question. I would enjoy my life more if other people lived better. If there were no homeless people panhandling on the mall or sleeping under bridges. If unregarded old folks weren't thrown into corners. If refugees were welcomed. If medical help was available to all as a birthright. Etc., etc., etc.

I would gladly pay more in taxes if my tax money was spent wisely. I'd be "better off." There would be less money in my personal pocket but more joy in my life.

Comments

[Don Z. Block]

Edward Abbey wrote that money is not the root of all evil; the desire for power is. But since people use money to acquire and use power, the two appear to be inseparable. I'm not sure if the Abbey quote came from "Desert Solitaire."