Quotes about Wealth

The merchants who sold these things and grew their wealth from her will stand at a distance, in fear of her torment. They will weep and mourn,

For in a single hour such fabulous wealth has been destroyed!” Every shipmaster, passenger, and sailor, and all who make their living from the sea, will stand at a distance

Then they will throw dust on their heads as they weep and mourn and cry out: “Woe, woe to the great city, where all who had ships on the sea were enriched by her wealth! For in a single hour she has been destroyed.”

so that you may eat the flesh of kings and commanders and mighty men, of horses and riders, of everyone slave and free, small and great.”

You need rich people in your society not so much because in spending their money they create jobs, but because of what they have to do to get rich. I'm not talking about the trickle-down effect here. I'm not saying that if you let Henry Ford get rich, he'll hire you as a waiter at his next party. I'm saying that he'll make you a tractor to replace your horse.

The people most likely to grasp that wealth can be created are the ones who are good at making things, the craftsmen. Their hand-made objects become store-bought ones.

Measurement and Leverage To get rich you need to get yourself in a situation with two things, measurement and leverage. You need to be in a position where your performance can be measured, or there is no way to get paid more by doing more. And you have to have leverage, in the sense that the decisions you make have a big effect.

Naturally wealth had a bad reputation. Two things changed. The first was the rule of law. For most of the world's history, if you did somehow accumulate a fortune, the ruler or his henchmen would find a way to steal it. But in medieval Europe something new happened. A new class of merchants and manufacturers began to collect in towns.10 Together they were able to withstand the local feudal lord.

This was naturally a great incentive, and possibly indeed the main cause of the second big change, industrialization. A great deal has been written about the causes of the Industrial Revolution. But surely a necessary, if not sufficient, condition was that people who made fortunes be able to enjoy them in peace.

But it was not till the Industrial Revolution that wealth creation definitively replaced corruption as the best way to get rich. In England, at least, corruption only became unfashionable (and in fact only started to be called "corruption") when there started to be other, faster ways to get rich.

Technology should increase the gap in income, but it seems to decrease other gaps. A hundred years ago, the rich led a different kind of life from ordinary people. They lived in houses full of servants, wore elaborately uncomfortable clothes, and travelled about in carriages drawn by teams of horses which themselves required their own houses and servants. Now, thanks to technology, the rich live more like the average person.

Where your treasure is, there also will be your heart.