Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Fed Chair Bernanke to Princeton Grads: Meritocracy Doesn't 'Pass Ethical Muster'
Big Government ^ | 06/16/2013 | Ben Shapiro

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 ...


TOPICS: Education; Society
KEYWORDS: benbernanke; bernanke; culturewar; givebacktosociety; marxism; redistribution; youdidntmakethat
This infuriates me. "Luck" may have a small part in success, but hard work, ethics and personal responsibility (to name a few) is what counts. I have had this argument with so many liberals who use this as an excuse for their own failures.
1 posted on 06/17/2013 8:14:04 AM PDT by Rusty0604
[ Post Reply | Private Reply | View Replies]

To: Rusty0604

“You didn’t make that”


2 posted on 06/17/2013 8:16:40 AM PDT by a fool in paradise (America 2013 - STUCK ON STUPID)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604
Yeah! Just because someone is smart, well educated, works hard, and invests his money wisely, why should he have more than somebody else?

(/sarc)

3 posted on 06/17/2013 8:18:46 AM PDT by sima_yi ( Reporting live from the far North)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

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.


4 posted on 06/17/2013 8:19:15 AM PDT by jsanders2001
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604
So gov't in its infinite wisdom is going to figure out who is lucky and who is unlucky and then even the scales of fortune.

I think that God himself would be jealous of anyone or anything that has such power.

5 posted on 06/17/2013 8:19:17 AM PDT by vbmoneyspender
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604
Bernanke admits he is unqualified and only got his position through luck and contacts and offering the right return to friends. This is a case of projection. Those who earned their success tend to project that same characteristic on others.
6 posted on 06/17/2013 8:19:21 AM PDT by ricmc2175
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604
Of course, people who were "lucky" enough to attend Harvard and Yale are exempt.
7 posted on 06/17/2013 8:20:57 AM PDT by E. Pluribus Unum (It is the deviants who are the bullies.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

It is my understanding that the great conservative George Bush appointed the Bernank.


8 posted on 06/17/2013 8:21:46 AM PDT by ecomcon
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

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.


9 posted on 06/17/2013 8:22:09 AM PDT by Bernard Marx
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

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?


10 posted on 06/17/2013 8:23:23 AM PDT by 9YearLurker
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

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.


11 posted on 06/17/2013 8:23:52 AM PDT by kevkrom (Obama: less class than Bill Clinton)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

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”.


12 posted on 06/17/2013 8:23:53 AM PDT by Da Coyote
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

99% of the elite ruling class in the United States are insane....take it for what it’s worth.


13 posted on 06/17/2013 8:23:59 AM PDT by LongWayHome
[ Post Reply | Private Reply | To 1 | View Replies]

To: ecomcon

Whaddaya know? Bushwhacked yet again!


14 posted on 06/17/2013 8:24:02 AM PDT by 9YearLurker
[ Post Reply | Private Reply | To 8 | View Replies]

To: Rusty0604

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.


15 posted on 06/17/2013 8:24:34 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

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.


16 posted on 06/17/2013 8:24:44 AM PDT by Dr. Sivana (There's no salvation in politics.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ecomcon

Or as some call him, ‘Benny and the inkjets’.


17 posted on 06/17/2013 8:26:09 AM PDT by Rusty0604
[ Post Reply | Private Reply | To 8 | View Replies]

To: Rusty0604

Thank You, George W. Bush, for giving this guy to us.


18 posted on 06/17/2013 8:26:32 AM PDT by Tea Party Terrorist (Those who work for a living are now outnumbered by those who vote for a living.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604
This infuriates me. "Luck" may have a small part in success, but hard work, ethics and personal responsibility (to name a few) is what counts. I have had this argument with so many liberals who use this as an excuse for their own failures.

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.

19 posted on 06/17/2013 8:27:01 AM PDT by Pollster1 ("Shall not be infringed" is unambiguous.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kevkrom

Ditto that. Look at some people that win the lottery, or make millions playing football, and are broke within a few years.


20 posted on 06/17/2013 8:28:09 AM PDT by Rusty0604
[ Post Reply | Private Reply | To 11 | View Replies]

To: Rusty0604

The meritocracy as defined by where your degree came from, often ain’t so meritorious. I know a research scientist at Yale who often deals with students. His take - Ivy league schools are very difficult to get into, but also very difficult to flunk out of.


21 posted on 06/17/2013 8:28:21 AM PDT by Jack of all Trades (Hold your face to the light, even though for the moment you do not see.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604
Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

This is known as "bad luck."

22 posted on 06/17/2013 8:29:39 AM PDT by vbmoneyspender
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

Luck? What an idiot I’ve been. I thought working days, nights, and weekends had something to do with it. Heck, I’m such a fool I thought I was supposed to pay my own way though college, and when I finished I found a job for which my schooling had prepared me. I chose and paid for my shelter according to what I could afford. I married and had children, in that order. I paid for health insurance with money I would rather have used for vacations and ballgames. We made a lot of mistakes, too, but most of the time we did the best we could, we don’t think we’re special. We’re Americans, and that’s what most Americans do.


23 posted on 06/17/2013 8:43:38 AM PDT by July4
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604
This infuriates me. "Luck" may have a small part in success, but hard work, ethics and personal responsibility (to name a few) is what counts

I once had a young woman ask hubby and me how long we had been married. At the time, it was 30 years. "Oh, you're lucky." That is what she said, I was stunned. I may have been "lucky" to have found him; but, getting and staying married requires a little bit more than that.

24 posted on 06/17/2013 8:44:59 AM PDT by LibertarianLiz
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

Just keep printing those greenback IOUs at warp speed, Ben.


25 posted on 06/17/2013 8:48:55 AM PDT by TADSLOS (The Event Horizon has come and gone. Buckle up and hang on.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

This is absolutely repugnant!

Delegating compassion to government is like delegating peacekeeping to criminals.

At the end of the day fairness and compassion are acts of individuals not bureaucracies.


26 posted on 06/17/2013 8:55:43 AM PDT by aquila48
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

We should differentiate three types of people:

Those born into wealth and privilege, for whom it is honorable to live lives of benefaction.

Those born into the mass of ordinary people, who having talent and ambition, create wealth and move society forward.

Those born into the mass of ordinary people, who not being particularly talented and ambitious, are engaged in work, family and community.

America’s strength has always been in the second and third type of person, not the first. To the extent Bernanke relates the graduates of Princeton to the first type, he differentiates them from the mass of ordinary people.

Those people - the elitists - have their place, but it is not in ruling over us. When they confuse privilege with being part of a natural aristocracy, they are not only handicapped from serving others, they are dangerous to the liberties of the masses of people.

This is what Lincoln spoke about when he said freedom means different things to the fox and to the sheep.

For the sheep, who are productive of wool and mutton, freedom mostly means being left alone (which means the government should play the role of policeman to protect us from the fox).

Whereas, to the fox, freedom means being able to take the product of those who work, our wool and our mutton, for their own purposes, unrestrained by law and custom.


27 posted on 06/17/2013 9:04:39 AM PDT by Redmen4ever
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

Another “winner of Life’s Lottery” speaks.

He must be channeling Clinton.


28 posted on 06/17/2013 9:05:10 AM PDT by Kickass Conservative (Compliance with Tyranny is Treason...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604
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.

He has been reading too much of Rawls's Theory of Justice which says that it is perfectly just for society to sacrifice the men of intelligence and creative ability-to seize their products and redistribute them to the world's losers-because their superior ability was a lucky gift from nature.

Thanks to the law of comparative advantage and the pyramic of ability principle,in a rational modern division of labor society, there is not only room, but also actual need, for everyone in the competition of a division of labor society, even for those who are less capable than others in every respect.

Thanks to economic inequality,and the fact that in a rational division of labor society,a growing body of technological knowledge, manifested in ever improved tools and machines and in man's growing power over the physical world in which he lives, makes possible a continuous increase in the total of what is produced. Where the total of what can be produced expands it can be concluded that when the so called "lucky" get rich, the less fortunate also get richer.

29 posted on 06/17/2013 9:11:14 AM PDT by mjp ((pro-{God, reality, reason, egoism, individualism, natural rights, limited government, capitalism}))
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

So if he won the lottery, he would distribute all of his winnings to the rest of us, since that CLEARLY would have been “luck”?

You know who is lucky? The guy born with athletic genetics. Sure, they work at it, but no more than we all work at what we do. But because they are “athletes”, they make sometimes hundreds of millions of dollars.

Maybe those people should all give their money back, instead of taking all of our tax dollars to build the stadiums where we then pay all the money to watch them play?


30 posted on 06/17/2013 9:12:58 AM PDT by CharlesWayneCT
[ Post Reply | Private Reply | To 1 | View Replies]

To: ricmc2175

Barack Obama is President, so it is hard to argue that you can’t get ahead through dumb luck and incompetence.


31 posted on 06/17/2013 9:13:39 AM PDT by CharlesWayneCT
[ Post Reply | Private Reply | To 6 | View Replies]

To: Rusty0604

>> He explained that meritocracies were inherently unfair

Nonsense. A meritocracy where there is equal opportunity for all — as the US was intended by the founders to be — is NOT inherently unfair.

It is inherently *unequal* in *outcome*, but so what? So is EVERY OTHER sociopolitical system put into practice by human beings.

As long as we’re going to get all philosophical, Ben — the best system would be a free society populated by practicing Christians (not Christians in name only). Kinda like our founding fathers envisioned.

God’s saving grace, freely given to all through the work of Jesus Christ — there’s your “equal outcome”, Ben. Meanwhile, free Christians use their freedom to “work quietly with their hands”, love one another, and ensure that the “least of them” are cared for. Greed — the downfall of capitalism — is abhorrent to a practicing Christian, as is laziness and self-indulgence at the expense of your fellows — the downfall of socialism.

There would be no better, more pleasant, more productive way on Earth to live than in uniform joyful obedience to God — and then go on to live with Him for all of eternity when our time here is done.

But Satan screws it up.


32 posted on 06/17/2013 9:13:44 AM PDT by Nervous Tick (Without GOD, men get what they deserve.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

>> ‘Benny and the inkjets’

rofl


33 posted on 06/17/2013 9:14:55 AM PDT by Nervous Tick (Without GOD, men get what they deserve.)
[ Post Reply | Private Reply | To 17 | View Replies]

To: CharlesWayneCT

See my post #20


34 posted on 06/17/2013 9:21:52 AM PDT by Rusty0604
[ Post Reply | Private Reply | To 30 | View Replies]

To: Rusty0604

Is this one of those semi-news/ semi-satire things?


35 posted on 06/17/2013 9:48:51 AM PDT by SC_Pete
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604
Boss of mine told me I was just lucky to get the assignment I'd worked on for a year, and lucky to write an entirely new set of regulations directing the mail delivery service of 15 million businesses, and lucky to earn an additional $100,000,000 for the agency that year..... just lucky.

I told him to assign the next big project to somebody else and see if he's lucky.

Moved on to something else.

BTW, he was a Democrat and he lived in Maryland. His wife was divorcing him for 'getting lucky' and 'getting caught' one too many times, and yet he was afraid of moving to Virginia.

She cleaned his pockets!

36 posted on 06/17/2013 9:52:14 AM PDT by muawiyah
[ Post Reply | Private Reply | To 1 | View Replies]

To: SC_Pete

I wish it were.


37 posted on 06/17/2013 9:53:02 AM PDT by Rusty0604
[ Post Reply | Private Reply | To 35 | View Replies]

To: Rusty0604
Ever notice in sports the team that works the hardest tends to be the “luckiest”?

Yeah.

Sometimes things do fall your way but only because you worked your fingers to the bone to be where they will fall.

38 posted on 06/17/2013 9:56:16 AM PDT by Harmless Teddy Bear (Revenge is a dish best served with pinto beans and muffins)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

Since when does LUCK have to do with a MERITOCRACY???? Goodness apparently English is not his first language.....


39 posted on 06/17/2013 10:00:21 AM PDT by Nifster
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rusty0604

We all know people who appear to have gotten ahead by luck, or by cheating or other unethical behavior.

And we all know people who’ve worked hard and done their best, and due to bad luck have never really gotten out from behind the 8 ball.

These are just facts. The free market is not fair, anymore than life in general is fair. But it’s a lot more fair than any system humans can conceivably devise and run to make it more fair. At least its “decisions” are made without malice or bias.


40 posted on 06/17/2013 10:10:06 AM PDT by Sherman Logan
[ Post Reply | Private Reply | To 1 | View Replies]

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.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson