Skip to comments.Fed Chair Bernanke to Princeton Grads: Meritocracy Doesn't 'Pass Ethical Muster'
Posted on 06/17/2013 8:14:04 AM PDT by Rusty0604
Speaking at the Princeton University graduation in June, Federal Reserve Chairman Ben Bernanke spelled out his political philosophy: from each according to his luck, to each according to his need.
He explained that meritocracies were inherently unfair, and that those who were the luckiest needed to give back to society to make the concept of meritocracy work ethically.
(Excerpt) Read more at breitbart.com ...
“You didn’t make that”
I agree. “Luck” has nothing to do with it. Just another socialist saying, “you didnt build that” another way. If you look at the real intent and perspective of the socialist liberal is, it’s just another way of saying “gimme dat’ homey” in better verbiage.
I think that God himself would be jealous of anyone or anything that has such power.
It is my understanding that the great conservative George Bush appointed the Bernank.
The first thing I checked after reading the lead paragraph was whether this is satire. I had that terrible falling sensation in the pit of my stomach when I realized it’s for real.
So if you’re smart you owe it to the stupid to work harder than they do, then distribute the fruits of your labor to those who are not only stupid, but according to Bernanke ethics, due a higher level of laziness as well?
I wouldn’t deny that most successful people get there because they got a lucky break. But in truth, lots of people get lucky breaks — but it takes skill, hard work, perseverance, and sacrifice to take advantage of those breaks.
We all get lucky sometimes. The successful ones capitalize on their opportunities.
Heh, sez Bernanke - who couldn’t pass a university course in any sort of science/math, logic?
Shove it up your smelly Obama - Bernanke, you ill-educated social science piece of excrement.
And - since you are a dim-bulb-crat - please do not even come close to mentioning the word “ethics”.
99% of the elite ruling class in the United States are insane....take it for what it’s worth.
Whaddaya know? Bushwhacked yet again!
The left have an analogous belief held by conservatives that infuriates them - that each are blessed according to God’s will.
They try to dismiss God’s sovereignty in “who gets what” by calling it “luck”.
It infuriates them to have an unappealable determiner of outcomes. It diminishes their own little self-godhood.
Certainly someone born into a wealthy family has a head start. Luck also helps those who were born with a pleasant countenance, above avaerage physical strength or endurance, good health, etc.
In all cases, even the Richie Rich with the big bank account, his luck does not cause my misfortune. Destroying it will not help me. Now, can those “lucky” enough to be born into old wealth families leverage that wealth to make more? Sure. That is more likely to happen in a socialist system that freezes the players (see Europe) than in a vibrant free enterprise economy. Many of these “lucky” kids don’t have the ability to maintain the string, as the temptation is to spend Daddy’s money on the good life, buying stuff from the next billionaires.
Or as some call him, ‘Benny and the inkjets’.
Thank You, George W. Bush, for giving this guy to us.
I've been very lucky in my life. I studied hard in high school, plus worked 20-30 hour weeks so that I could get into a good college and pay for it, and I got lucky on college admissions. I worked hard in college and got lucky with my grades and knowledge, so that I was lucky enough to get a teaching fellowship to pay for grad school. Then when I finished school, I worked 60-90 hours a week to establish my business, insisted on perfection in what we produced, and I got lucky - I collected clients who paid extremely well, and they gave referrals that brought in even more business. I've had an unbelievable amount of luck, far more than my friends who partied or were present for only a 40 hour week, much of which was not productive for their employer. It's not fair, is it?
I did follow Bernanke's advice though - I gave back to society. I gave jobs to those who also consistently got lucky in life. I gave answers to politicians and businessmen who had questions - jobs that I assume they valued based on my extremely low turnover, and answers that I assume they valued based on their enthusiasm for paying generously and bringing me back as soon as I had another schedule opening. Especially though, now that I am retired and watching the "fundamental transformation" of what used to be a free country, I am giving back to society by keeping firearms and ammo manufacturers in business to the best of my ability.
Ditto that. Look at some people that win the lottery, or make millions playing football, and are broke within a few years.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.