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Wealth & Economics > How to become rich and remain decent?

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message 1: by Nik (new)

Nik Krasno | 13056 comments Does moneymaking corrupt? Some would say - not at all. Others would answer - definitely. And probably both will be right, because it'll depend on corruptibility of each businessman.
Having hosted a relative from the West Coast, pretty new to employment market after college and engaged now in sales and marketing and hearing her saying that 'it's all like cheating, but I'm getting over it', I wonder whether there is indeed some hidden dichotomy.
Sales are the soul of biz. It's often about stressing the strong sides, concealing the weak and convincing folks to buy. Yeah, there is regulation - you need to notify that cigs are dangerous, that products contain some E- _____ stabilizers and colors, that alcohol is not so cool in excessive consumption and so on.. But who would place these, were it not for regulation? Saints or idiots. Right?
We've discussed elsewhere that hardly righteousness is such an advantage in business. It's probably the opposite - the more 'flexible' you are, the better.
And still there are lots of decent businessmen, but I'd argue it's rather 'despite' than 'because'.
So, is there a way to make some mills/bills and not sell your soul -:) ? Is an element of 'cheating' a must or not necessarily?


Tara Woods Turner | 2063 comments You have to admit that who you are is who you are. Good person without money. good person with money.


message 3: by Nik (new)

Nik Krasno | 13056 comments Tara wrote: "You have to admit that who you are is who you are. Good person without money. good person with money."

You know I've seen those transformations in people: Westerners arriving to Wild West of Eastern Europe. 'Right', decent businessmen. First, some praise girls but complain about corruption and bribery. Some time passes and some of them understand that it's kinda hard to be the only white sheep and start behaving as Romans do....


Tara Woods Turner | 2063 comments Nik wrote: "Tara wrote: "You have to admit that who you are is who you are. Good person without money. good person with money."

You know I've seen those transformations in people: Westerners arriving to Wild ..."


That means they had it in them all along and their circumstances brought it out of them. If they truly did not have the ability or desire to be corrupt they would remove themselves from that environment even if it meant losing money. Someone once said difficult times do not shape our character, they reveal them. Very true, imo.


message 5: by Nik (new)

Nik Krasno | 13056 comments Hmm... maybe. I believe fewer remain adamant no matter what and more have a devil inside (not in a religious sense). The graver and the longer the circumstances' influence the more extreme reaction they may cause or corrupt for that matter... Some say humans started as quite adaptive animals -:)


message 6: by Kevin (new)

Kevin Kuhn (kevinkuhn) | 45 comments It is certainly more difficult to obtain wealth without becoming corrupt, but I believe it's possible. Hard work and persistance verses shortcuts and ruthlessness.


message 7: by Ian (new)

Ian Miller | 9195 comments The real question is how did the person become rich in the first place? I do not believe hard work alone will get you there, so something else has to happen. Some people have luck, and drift into the deal of the century, and there is no reason why these should not remain decent, although very large sums of money does give more opportunities not to be. But if you got rich through various shady deals, it is unlikely you will suddenly become decent - once in the blood, stopping seems to be very difficult.


message 8: by Joanna (new)

Joanna Elm | 145 comments Please guys, what do you mean by rich? Please specify, do you mean good salary or amassed wealth? and, if you mean amassed wealth what do you consider to be rich?


message 9: by Nik (new)

Nik Krasno | 13056 comments Joanna wrote: "Please guys, what do you mean by rich? Please specify, do you mean good salary or amassed wealth? and, if you mean amassed wealth what do you consider to be rich?"

Good question and many wouldn't consider themselves wealthy as some research shows -:): https://www.supermoney.com/2016/05/mu...
I guess, we are talking about amassed wealth in many millions of USD and above


message 10: by Kevin (last edited Oct 27, 2016 06:38AM) (new)

Kevin Kuhn (kevinkuhn) | 45 comments Here's what always get's me - people complain about the 1%, what they don't realize is how wealthy they are themselves when compared to the world. If your worth is $100,000, you are in the top 91%, if your assets are $10,000, you are in the top 69%. Wealth is relative. Someone making $25k thinks it unfair that someone makes $1m, understandable. But someone who makes $1k thinks its unfair that someone is making $25k. The key is we need to raise the bottom worldwide. When you have nothing to live for, you are easy radicalized and if you like it or not - we are one world.


message 11: by Nik (new)

Nik Krasno | 13056 comments Kevin wrote: "Wealth is relative. Someone making $25k thinks it unfair that someone makes $1m, understandable... The key is we need to raise the bottom worldwide.."

Agree that it's our common interest to raise the bottom. Wealth is unlikely ever gonna be equal. I don't think it's unfair that someone makes more or even much more, what I do think is unfair that the system is mostly calibrated in such a way that helps rich get richer and poor poorer and on widening the gap. It should be, in my opinion, calibrated at closing the gap (however based on assumption that it will always remain)


message 12: by Kevin (new)

Kevin Kuhn (kevinkuhn) | 45 comments Reasonable view Nik, I agree with you.


message 13: by Nik (new)

Nik Krasno | 13056 comments Any new opinions maybe?


message 14: by Jen Pattison (new)

Jen Pattison | 409 comments It's a bit like whether being rich will make you happy. Having known rich and miserable people, I don't think that money fundamentally changes your character - it just enables you to buy more shiny baubles.


message 15: by Ian (new)

Ian Miller | 9195 comments Jen Pattison wrote: "It's a bit like whether being rich will make you happy. Having known rich and miserable people, I don't think that money fundamentally changes your character - it just enables you to buy more shiny..."

When you are rich, you retain the character that got you rich. If you were miserably squeezing all and sundry to get there, you keep doing it. From what I gather, J D Rockefeller was a prime example.


message 16: by Scout (new)

Scout (goodreadscomscout) | 5168 comments The original question was "So, is there a way to make some mills/bills and not sell your soul -:) ? Is an element of 'cheating' a must or not necessarily?"

As I mentioned elsewhere, I recently read an interview with Elon Musk. If he's sold his soul or cheated, I can't see it. Same for Warren Buffett. So, I'd say no.


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