Not long ago, I denounced our society’s excessive reliance on money as a determining factor for all that we do. I’ve also recently outlined the ramifications of upsetting the apple cart.
So what gives?
In truth, neither have to.
We can gradually improve the system we have without causing undue strife. We all stand to gain from this track — our socioeconomic model moves closer to ideal without us sacrificing our identity.
Consider what some prospective leaders of this nation are proposing — that we all reap the benefits of something others pay for. Others could be foreign nations or, more troublingly, our own financial elites. In our money-driven society, many might consider this a dream come true — we can reap the benefits of healthcare, education, housing and more at the expense of those who stash their money away in offshore bank accounts. The recent revelations of the measures the global rich take to keep that money from being taxed has added the fuel of righteousness to these arguments.
In light of all this, many are supporting the idea of requiring the rich to cede even more of their wealth to fund services for the less affluent, to funnel more money towards the financial mean. In reality, this solution would bring unintended consequences.
While it’s true that a surplus of money leads to all the ugly behavior wealth preservation brings —selfishness, egotistical behavior — the possibility of accruing wealth in our society is a powerful incentive. The opportunity to provide ourselves and our loved ones a better life is something that drives us to give our 100% professionally. If we were to compress everyone to the financial mean, to remove the carrot of potential wealth by redistributing those earnings among the masses, there would be no stick driving us to give our all — as we’d end up at the same point no matter how much effort we put into our vocations.
This is why communism and socialism don’t work for our society. In those models, people have very little control over their destiny; no matter what they do, the government has a stranglehold on what they get and pay for. There is little incentive to grow professionally, to stay engaged, to avoid the debilitating effects of laziness.
Capitalism, ostensibly, gives us equal opportunity to determine our own fate. While the side effects are notable — a sizable income gap, greed, aggressive behavior and class divides — it does provide us with the inspiration to innovate, grow and expand our potential. It’s key for us not to attack this system, but instead to fix the inefficiencies that deny so many that equal opportunity they should be provided. Furthermore, we each have a responsibility to both act ethically and keep our financial status separate from our obligation to contribute to the communities we reside in.
With some small improvements — many from within our realm of personal responsibility — we can help make the system more efficient, and our society better from top to bottom. All while keeping the balance.