Running head: ACQUISITION AND DISTRIBUTION OF WEALTH

Acquisition and Control of Wealth by Few vs. Distribution of Wealth Among the Many
Audrey A. Post
Salt Lake Community College

ACQUISITION AND DISTRIBUTION OF WEALTH

Some people may argue that the one percent of people who acquire and control the
majority of wealth is a bad thing; however, they forget the many good things that can (and have)
come about (Zeveloff, 2016). I believe that wealth inspires motivation within people to become
well-educated and to innovative and create new things. Just as hard workers create wealth, wealth
also creates hard workers in people who wish to be rewarded for their efforts monetarily. Wealth
also helps many charities and provides opportunities for those less fortunate. Based on my personal
experiences and beliefs, the acquisition and control of wealth by few can be a good thing if those
who own and control the wealth choose to do something good with it.
People are driven to succeed based on their wants and desires. If the wealth was distributed
evenly among everyone, where would the motivation to improve come from? How a person wants
to live and the things that they want to have will determine what a person is willing to do to get
them. Some people are content with living a simple life and just getting by day to day, while others
want to educate themselves to become something or someone that will get them what they want
(Huan-Chang, 2013). The desire to become wealthy is one of the ways people will be motivated to
become well-educated. Becoming wealthy has been one of the motivational factors in my life and
what has driven me to acquire and pursue an education.
Motivation for wealth is also what inspires people to innovate and invent new ideas and
ways of doing things. Many people have new designs related to existing products and new ways of
doing things that could potentially be worth a lot of money, but few act on making it available for
others. If someone is truly inspired to become extremely wealthy then they will do what it takes to
make their ideas come to life. Some people want more than just sitting day-after-day, doing the
same job over and over again. The idea of becoming wealthy by making new inventions is what
inspires them (Shontell, 2016).

ACQUISITION AND DISTRIBUTION OF WEALTH

Most of us have heard the quote, hard work pays off. My belief growing up has always
been that if you want something, you have to work hard to get it. If you want to run a marathon,
then it will not be possible if you are sitting on the couch watching people run on television. If you
want to become wealthy, then it will not be possible if you sit around watching other people work
for their wealth. Hard work does not necessarily mean you have to work hard all day in the sun; it
can be working towards an education, learning how to manage finances, and learning from our
failures. Is it fair to give the reward of hard work to those who have not made the efforts
themselves to acquire wealth? If wealth were to be distributed among many, then there would be no
incentive to work hard for what one wants.
Not all of the top wealthy people were born with their riches. Evan Andrews (2016) said
Some of historys most famous business tycoons and royals spent their youths as peasants, poor
immigrants and even slavesthese people climbed to the top through hard work, luck and in
some cases sheer ruthlessness. One of these people being Andrew Carnegie whose life story can
be described as rags to riches. He was poor as a child and immigrated to America in 1848 when
he was 13 years old. He began working when he was young and in 1859 he became the
superintendent of the railroads western division. He began investing in various businesses
including a steel mill. Eventually, he sold Carnegie Steel Company to J.P. Morgan for $480 million
and became one of the richest men in the world (Andrews, 2016). Carnegie (2013) declared The
man who dies thus rich dies disgraced (p. 210). He believed the wealthy should spend their money
during their lifetime by donating to charitable causes, which he did.
I have read about many of the wealthiest people in my lifetime who have donated millions
and billions of dollars for the benefit of the general public. Bill and Melinda Gates, some of the
wealthiest people in the world, donate billions of dollars to improve the quality of life for people
around the world. Warren Buffett has also donated billions to improve lives and along with Gates

ACQUISITION AND DISTRIBUTION OF WEALTH

encourages the worlds wealthiest to donate to charitable causes (Morrell, 2016). With the worlds
wealth amongst a few, great things have come to pass such as; building libraries, educating the
uneducated, feeding the hungry, scientific research to improve quality of life, and much more.
These types of accomplishments would not be possible if the wealth was distributed among
everyone. The money might be wasted on a bigger house, better car, or buying more expensive
items that are of no use to society as a whole. Carnegie (2013) says we are better off today with the
irregularity of wealth than living as we did in the past. Personal experiences have made me realize
the important part the wealthy play in donating their wealth to charitable causes with the intent to
better the lives of others.
I understand the need for some redistribution of wealth for those in need who cannot help
themselves, and the government plays an important role in that respect; however, charitable
organizations can and often do provide that service with much greater efficiency and efficacy. It
should never be the governments role to redistribute all wealth to make incomes equal for all.
The one percent of people who acquire and control the wealth of the world have been
given an amazing opportunity to help others in need. Not only do they donate large amounts of
money to help charities but they also provide employment and job opportunities for others.
Carnegie (2013) says, For able men soon create capital; in the hand of those without the special
talent required, capital soon take wings (p. 205). The wealthy have the opportunity to create a
better world by spreading their wealth in a way that benefits everyone. My moral and ethical
upbringing has taught me the importance of giving to charity and helping those less fortunate. It is
the greed of the have-nots that drives the desire for the redistribution of wealth among all, but if we
did this, it would take away from the many great things that come about by the wealthy few and
would surely remove the foundation of motivation for obtaining wealth.

ACQUISITION AND DISTRIBUTION OF WEALTH

References
Andrews, E. (2016). 7 amazing rags to riches stories. Retrieved from
http://www.history.com/news/history-lists/7-amazing-rags-to-riches-stories
Carnegie, A. (2013). From the gospel of wealth. In C. M. Boardman, A. N. Sandomir, & H.
Sondak (Eds.), Foundations of business thought. (pp. 204 210). Boston: Pearson
Education Publishing
Haun-Chang, C. (2013). Laissez-faire policy from the economic principles of Confucius and
his school. In C. M. Boardman, A. N. Sandomir, & H. Sondak (Eds.), Foundations of
business thought. (pp. 120 122). Boston: Pearson Education
Publishing.
Morrel, A. (2016). Warren Buffett unleashes another $2.8 billion donation. Retrieved from
http://www.forbes.com/sites/alexmorrell/2015/07/06/warren-buffett-unleashes-another-2- 8billion-donation/#414860d33e2a
Shontell, A. (2016). 9 Ridiculous ideas that made people ridiculously rich. Retrieved from
http://www.businessinsider.com/9-ridiculous-ideas-that-made-people-ridiculously-rich2011-3?op=1
Zeveloff, J. (2016). 25 Super rich people who use their money to help the world. Retrieved from
http://www.businessinsider.com/most-generous-biggest-philanthropists-occupy-wall- street2011-10?op=1