Tuesday, April 12, 2011

Low Earners

Some of the lowest earners of all the people in this country are graduates of Harvard and Yale. Everything they "make" comes from their super rich parents and from connections (that they also get from their super rich parents.) On their own, they couldn't make $100 a week. Any minimum-wage worker is a higher earner because, more often than not, s/he makes the minimum wage completely on his or her own. Making $250,000 per year in a job that was reserved for you since the day you went to grade school and that you manage to keep because of connections that were made for you, cannot possibly count as really making money. These amounts are just handouts that society offers to the children of the super rich as compensation for being born into such sad circumstances.


Tim said...

Hmmm so you are basically breaking down income into what you just make and what you have truly earned ?

I think this is a good idea, but I find it hard to come up with some kind of measurement for it.

What is actually earned money for honest work and what is not ? I mean you talk about profiting from connections and relationships, but creating, keeping and nurturing those can be hard work too, especially when you think that it can require some serious people skills.

Or is it the absence of physical prove ? They aren't exactly bridge-builders nor are they creator of actual physical things. But then you might as well say that social scientists earn money through talking, powerpoint and gossiping.

Also, if you had the opportunity, say to go into your parents business and earn 250k $ a year for basically doing nothing, would you pass ?

I know that I wouldn't.

Clarissa said...

Precisely at the point when my father's business was doing the best ever financially, I dropped out of it and started forging a career for myself completely out of scratch. Now that I have seen what having their parents' huge fortunes to back them up does to people, I'm doubly happy that I did that.

Most of the people I saw as students (grad and undergrad) at the Ivies couldn't make a living on their own to save their lives. Unless somebody hands them a job and guarantees that the job is there to stay, they are useless.

Preserving connections is not "hard work." It's no work at all. If you are connected to people by the fact of your birth, how much effort does it go into being born and then being some rich person's second cousin?