Posts Tagged ‘philanthropy’

More Love, Less Greed

September 22, 2018

The title of this post summarizes the problem of our times. The immediately preceding post discussed Bezos and other billionaires giving away large sums, even a majority of their wealth. They appear to regard philanthropy as both a duty and a joy. Unfortunately, there are many other billionaires who live in the nature of Donald Trump. Trump values people solely in terms of their wealth. There are some exceptions such as those in the military who command power. At some point, additional wealth can add nothing to one’s pleasure. All humans are biological beings with biological constraints. Yet for many billionaires, such as Trump, money is regarded as a score with the goal being to have as many billions as they can. This is greed at its very worse.

Although money is a means of keeping score for these billionaires, money is a means of survival for many, and to achieving a modest middle class lifestyle for others. Here is a breakdown of wealth in the United States:

Population    % of Wealth
Top 1%            40%
Next 4%           27%
Next 5%           12%
Next 10%         11%
Second 20%      8%
Middle 20%      2%
Fourth 20%       0%
Bottom 20%     -1% (negative net worth)

Clearly there is a gross maldistribution here, and many wealthy could give away more of their wealth without feeling any pain. Moreover, the majority of this wealth is inherited wealth, so for them this wealth has not been earned. It is interesting that neither the Gates, nor Warren Buffet believe in inherited wealth. They think that inherited wealth is not good for their children. If only more of the wealthy shared this belief.

The Trump tax cut increased the wealth of the top 1% people, leaving just crumbs for the rest. And this tax cut irresponsibly increases the debt burden on future generations.

Trump himself gives nothing to charity. Moreover, his Trump Charity is being investigated by the State of New York for fraud.

© Douglas Griffith and healthymemory.wordpress.com, 2018. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Douglas Griffith and healthymemory.wordpress.com with appropriate and specific direction to the original content.

Everything is Obvious* How Common Sense Fails Us

July 20, 2014

The asterisk in the title points to “once you know the answer.” This is the title of an interesting and important book by Duncan J. Watts. Duncan majored in physics as an undergraduate and finished with a Ph.D, in engineering. His dissertation was on the mathematics of small-world networks. However, after finishing his formal education he came to the conclusion that most of the important problems that needed to be addressed were in the social sciences.

I certainly agree with Dr. Watts. In the past I’ve written how it was a mistake to exclude psychology from the STEM (Science, Technology, Engineering, and Math) disciplines. Unfortunately when the sciences are mentioned people tend to think of the hard sciences and engineers wearing lab coats. Indeed in 2006 Senator Kay Bailey Hutchinson proposed to cut the entire social science budget of the National Science Foundation. So she was, in effect, recommending that the NSF budget be cut where it is most needed.

Everything is Obvious is divided into two parts: Part One is titled “Common Sense,” Part Two is titled “Uncommon Sense.” One of the problems is that too many people think of the social sciences as dealing with problems that can be solved with common sense. Moreover, common sense has favorable connotations. Dr. Watts disabuses us of this notion, showing how common sense is often wrong, and that many problems remain unsolved because of mistaken notions regarding common sense. Dr. Watts elaborates on the difficulties of most important problems and the difficulties involved in making accurate predictions. Finally, he discusses approaches for dealing with these apparently intractable problems.

Everything is Obvious should be a must read not only for the sciences, but for anyone interested in any activity, be it politics, business, marketing, philanthropy, that involves understanding, predicting, changing, or responding to the behavior of people.

© Douglas Griffith and healthymemory.wordpress.com, 2014. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Douglas Griffith and healthymemory.wordpress.com with appropriate and specific direction to the original content.