Conversation with a rich uncle

[Danan]

Successful business men don't necessarily understand the economy any better than a usual worker. Managing a firm and understanding general economic activity have almost nothing in common.

Von Mises was a great economist but there is no indication that he would have been a successful entrepreneur. Similarly, many billionaires have outlandish socialist views of the economy.

[EBounding]

He said when he opened his first grocery store, even though the store brought in a lot of money, there was no incentive to hire new employees. He said while his pockets kept getting fuller, his 8 or so employees made about $8.00, and he had no reason to hire anyone else because they did a fine job of keeping the store going.

Sounds like they should have asked for a raise. :P

The thing is, we have a federal government that wants to eventually "take care" of everyone, not just the people who are worse off or don't have as much ambition. I would personally settle for a limited federal government, and let the states do the social caretaking. Of course, the states wouldn't be able to do much since they wouldn't have a money printing press.

[Cleaner44]

Sounds like they should have asked for a raise. :P

The thing is, we have a federal government that wants to eventually "take care" of everyone, not just the people who are worse off or don't have as much ambition. I would personally settle for a limited federal government, and let the states do the social caretaking. Of course, the states wouldn't be able to do much since they wouldn't have a money printing press.

It's a shame that the rich uncle did not see fit to reward his workers that helped him make his fortune. Even now the rich uncle could seek out those former employees and give them a wonderful gift, since he sees them as less able than himself. Certainly they are well deserving of his self-inflicted redistribution of his wealth. Instead his answer is to ask people in the government to take his money and then use it to purchase drones for killing children. To make it worse it seems that the uncle has guilt and wants to alleviative it by forcing his fellow wealthy citizens to have their money redistributed to the military industrial complex. All of this could have been avoided if he simply would have been a caring and generous person throughout his life rather than becoming greedier as he became wealthier.

The whole thing reminds me of a typical violent asshole in prison that finds Jesus and then feels that everyone else needs to find Jesus because that is what help him turn his life around. It never occurs to him that most people aren't violent assholes and don't have that same need to turn their life around. I am happy that the prisoner stops being a violent asshole and if Jesus it what did it for him, great... more power to him. I just don't want some asshole telling me how to live life because he was doing it wrong for so long.

[cjm]

Taking something that doesn't belong to you is wrong. That is black and white.

Whether a particular person needs a handout or needs a kick in the pants is not always black and white. Reasonable people can agree to disagree here.

[fr33]

His reasoning is used to fight every war, jail every non-violent offender, and steal half my time and money every year. "People are not created equally"

Initiating violence is wrong. I suggest that your uncle's morals aren't very good and you shouldn't let such a man persuade you. Many a mass grave were dug for the people not created equally.

[schiffheadbaby]

Interesting that now that he is retired he wants huge income taxes? He is a thief or at least a symphathizer of thieves.

[ShaneEnochs]

His reasoning is used to fight every war, jail every non-violent offender, and steal half my time and money every year. "People are not created equally"

Initiating violence is wrong. I suggest that your uncle's morals aren't very good and you shouldn't let such a man persuade you. Many a mass grave were dug for the people not created equally.

No you're definitely right there. He was absolutely cut throat. My dad always told me that my uncle had mafia dealings. I still thought it was an interesting perspective.

[schiffheadbaby]

No you're definitely right there. He was absolutely cut throat. My dad always told me that my uncle had mafia dealings. I still thought it was an interesting perspective.

I wonder how he would feel if the old man were mugged on the street. Would that be an interesting perspective?

[Carson]

ShaneEnochs,

The way I heard it used to work was that the person that put up the money would get a fifty percent share of the profits and those that provided the labor would split up the other fifty percent. Of course if your Uncle provided some of the labor that should have been taken into account.

I think we have strayed way off of a fair business model.

[Carson]

Sounds like they should have asked for a raise. :P

The thing is, we have a federal government that wants to eventually "take care" of everyone, not just the people who are worse off or don't have as much ambition. I would personally settle for a limited federal government, and let the states do the social caretaking. Of course, the states wouldn't be able to do much since they wouldn't have a money printing press.

Or opened their own stores.

Or went in together on one for that matter.