Income in Philosophy and Ethics
Throughout history, many have written about the impact of income on morality and society. Saint Paul wrote 'For the love of money is a root of all kinds of evil:' (1 Timothy 6:10 (ASV)).
Some scholars have come to the conclusion that material progress and prosperity, as manifested in continuous income growth at both individual and national level, provide the indispensable foundation for sustaining any kind of morality. This argument was explicitly given by Adam Smith in his Theory of Moral Sentiments, and has more recently been developed by Harvard economist Benjamin Friedman in his book The Moral Consequences of Economic Growth.
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Famous quotes containing the words income, philosophy and/or ethics:
“The secret of success lies never in the amount of money, but in the relation of income to outgo.”
—Ralph Waldo Emerson (1803–1882)
“The new statement will comprise the skepticisms, as well as the faiths of society, and out of unbeliefs a creed shall be formed. For, skepticisms are not gratuitous or lawless, but are limitations of the affirmative statement, and the new philosophy must take them in, and make affirmations outside of them, just as much as must include the oldest beliefs.”
—Ralph Waldo Emerson (1803–1882)
“The vanity of the sciences. Physical science will not console me for the ignorance of morality in the time of affliction. But the science of ethics will always console me for the ignorance of the physical sciences.”
—Blaise Pascal (1623–1662)