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MY WIFE NEEDED KNEE replacement surgery a few years ago. Her health plan, which was provided through the school district where she worked, was a preferred provider organization with a large network of doctors. After some research, my wife decided she wanted her operation done at New York City’s Hospital for Special Surgery.
I love hearing about people’s lives. I’ve long read biographies to learn how others gained their fame or fortune, hoping for pointers that would help me with my own life. I also pepper people with questions about their background.
When we met my wife’s surgeon, I knew he’d graduated from Princeton University, which is near where we live. But I wanted to know more. I asked him what his major was.
When I found out, I was surprised. “Art history? That’s a big leap to orthopedic surgery.”
“My father knew that I’d have to work hard in medical school, so he wanted me to enjoy my undergraduate years.”
“Did you know where you were going to med school?” I asked.
The surgeon’s response: His father had graduated from Columbia University’s medical school, and he’d make sure his son got in.
Early in my career, a manager once told me that “rank has privileges.” The rich have always enjoyed benefits that elude others. Clearly, my wife’s surgeon was part of the 1%, getting the benefit of an Ivy League education, plus guaranteed entrance to medical school. It must be nice.
Knowing what the 1% have can either inspire us or defeat us. In his book The Magic of Thinking Big, David J. Schwartz makes the argument that the higher you aim, the higher your final landing spot will be.
I’ve always wanted to be rich. Did I get it all? No. But my lofty goal meant I probably ended up with more than I otherwise would. Today, I’m satisfied with what I have based on the effort I put in.
What about my wife’s surgery? It went beautifully. Her surgeon was a great guy, with a good sense of humor, and he didn’t get upset with my interrogation. Yes, he had advantages that my wife and I never had. But we were also able to take advantage of his talents and his training. We shouldn’t be jealous of what others have. Instead, when we get the chance, we should utilize their skills and training for our own benefit.
I’m with you. I’d rather not be envious and enjoy what I have.
Hmmmm. There’s a bit of a flaw in the argument that because this surgeon was born with a silver spoon, that’s why he was a good surgeon. Clearly he was smart and worked hard to take full advantage of his excellent training. But some other young man or woman could have become an equally good (or better) surgeon without the “Dad got me into Columbia Med School” part of the story—based on merit alone, not privilege. Indeed, being handed everything might have resulted in him becoming a less capable surgeon because he might have learned he didn’t need to work hard. In his case, it sounds like it didn’t happen, but—I’m not entirely buying that “we’re all better off” because someone else got completely unearned privilege. We don’t have to be jealous of them, but I don’t think we need to be grateful to them, either.
The rich may have benefits that elude most of us but that is such a small fraction of the population. It is important to recognize that there are endless examples from all kinds of backgrounds, education, family situations, races, religions, etc… of people who have created substantial wealth. There are about 24 million who have a net worth of one million or more and almost 90% of them are self-made. Some paths are more difficult than others but I’d be surprised if just about everyone can’t find a person with a similiar set of circumstances to them that has made it happen. This great country provides opportunities. Warren Buffet was spot on saying you won the lottery being born in the US.
Success is a collaborative effort. The myth of the self-made man is just that, a myth. Embrace the idea that we are all interconnected, and our achievements are a collective effort. We are, in the end, a reflection of the support and guidance we receive from the countless people who shape our lives. In this case, the top 1% do have an unfair advantage
Most of the wealth accumulated by new billionaires in 2023 came from inheritance, overtaking self-made wealth for the first time in the nine editions of a study by UBS.Dec 3, 2023
In our American culture, we deeply value innovation and celebrate the achievements of those who work diligently to attain success, which is commendable.
However, there’s a tendency to overlook individuals who inherit privilege and wealth, reaping its advantages without necessarily earning them. This is particularly evident in the admissions processes of prestigious institutions like Ivy League schools.
It’s important to ensure that our tax dollars aren’t inadvertently supporting a system that perpetuates such inequality by providing tax breaks to those who already have significant advantages.
Good point. I get very annoyed by the criticism of our super wealthy and billionaires – greedy, not paying their fair share and assorted nonsense.
It seems to me people who create, improve our lives and virtually change the world deserve thanks, not criticism, even if their investments make them billionaires times over.
If they never paid a penny in taxes, we all come out a head of the game, but of course they do pay taxes.
Most of us have a garage, so we too could invent something, or create a shopping revolution.
Better the critics should do something to make life better rather than foster envy of those that do.
Has Amazon improved our lives in a meaningful way? Twitter? Facebook? I don’t think so. Have to disagree with you here. Musk hasn’t improved our lives. Matter of fact, he is doing his best to screw it up.
Most of the wealth accumulated by new billionaires in 2023 came from inheritance, overtaking self-made wealth for the first time in the nine editions of a study by UBS.Dec 3, 2023
Curious as to how you reconcile an individual such as Jamie Diamond, CEO of JPM, who became a billionaire without ever creating anything? Many will say “shareholder value”, but let’s be honest one man, even the top dog, does not move the needle on shareholder value for a company with tens of thousands of employees. Its a collaborative effort that goes under compensated for the many.
You apparently subscribe to the belief that our economy and lives would be very different if Jobs, Gates, Musk, Bezos, Zuckerberg, Schultz, and Arnault (to name a few) had never lived. The counterargument is that we live in a winner take all society in which small differences in performance have resulted in enormous differences in wealth. For example, LVMH CEO Bernard Arnault is worth $198 billion which currently puts him third after Musk and Bezos. Do you think the luxury products that made him wealthy-Dior, Louis Vuitton, Sephora have changed the world and improved our lives in a manner that warrants one person having that amount of wealth?
“… we too could invent something,…”
or we can head to the local supermarket to grab the next potential megaball ‘s wining lottery ticket.