Donald J. Kochan: Benjamin Franklin on Wealth
[Donald J. Kochan is an associate professor of law at Chapman University School of Law in Orange.]
On this day 226 years ago — July 26, 1784 — Benjamin Franklin considered whether society was in need of a "remedy for luxury" in a letter to his trusted advisor, Benjamin Vaughn. In it, Franklin methodically argued against such a need.
The current growing clamor for the regulation of wealth makes Franklin's thoughts on the matter relevant today. Consider President Obama's now infamous off-script muttering that "I do think at a certain point you've made enough money." Many have argued that this statement is emblematic of larger anti-wealth, anti-luxury tendencies in the administration's agenda.
Liberals are not the only ones, though, who engage in anti-luxury politics. All sides invoke the term "luxury" with a loaded meaning of "inappropriate," "excessive" or "wrong." Take as examples recent criticism from conservatives about Obama's vacations, Massachusetts Sen. John Kerry's yacht or criticism from varying political perspectives on the sailing trip BP's chief executive took during the Gulf of Mexico oil spill. Luxury is a demonizing four-letter word that plays well with the public....
Read entire article at LA Times
On this day 226 years ago — July 26, 1784 — Benjamin Franklin considered whether society was in need of a "remedy for luxury" in a letter to his trusted advisor, Benjamin Vaughn. In it, Franklin methodically argued against such a need.
The current growing clamor for the regulation of wealth makes Franklin's thoughts on the matter relevant today. Consider President Obama's now infamous off-script muttering that "I do think at a certain point you've made enough money." Many have argued that this statement is emblematic of larger anti-wealth, anti-luxury tendencies in the administration's agenda.
Liberals are not the only ones, though, who engage in anti-luxury politics. All sides invoke the term "luxury" with a loaded meaning of "inappropriate," "excessive" or "wrong." Take as examples recent criticism from conservatives about Obama's vacations, Massachusetts Sen. John Kerry's yacht or criticism from varying political perspectives on the sailing trip BP's chief executive took during the Gulf of Mexico oil spill. Luxury is a demonizing four-letter word that plays well with the public....