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.
Read more about this topic: Income
Famous quotes containing the words income in, income, philosophy and/or ethics:
“You boast of spending a tenth part of your income in charity; maybe you should spend the nine tenths so, and done with it.”
—Henry David Thoreau (1817–1862)
“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 late Président de Montesquieu told me that he knew how to be blind—he had been so for such a long time—but I swear that I do not know how to be deaf: I cannot get used to it, and I am as humiliated and distressed by it today as I was during the first week. No philosophy in the world can palliate deafness.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)
“Such is the brutalization of commercial ethics in this country that no one can feel anything more delicate than the velvet touch of a soft buck.”
—Raymond Chandler (1888–1959)