Wednesday, January 27, 2010
Lincoln quote- Captalism, Labor, Wealth
"Property is the fruit of labor...property is desirable...is a positive good in the world. That some should be rich shows that others may become rich, and hence is just encouragement to industry and enterprise. Let not him who is houseless pull down the house of another; but let him labor diligently and build one for himself, thus by example assuring that his own shall be safe from violence when built." The Collected Works of Abraham Lincoln edited by Roy P. Basler, Volume VII, "Reply to New York Workingmen's Democratic Republican Association" (March 21, 1864), pp. 259-260.
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Tried to find some sort of statistics on the number of self made fortunes vs inherited- the best I could find so far was an article in the NY Times from 2005 which compares the numbers from 1985 to 2005, still pretty interesting but if I find something better I will post that as well!
ReplyDeletehttp://query.nytimes.com/gst/fullpage.html?res=9F00E6DD1430F936A1575AC0A9639C8B63&sec=&spon=&pagewanted=all