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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
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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
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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)
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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)
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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
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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
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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
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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.)
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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
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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
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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
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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)
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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
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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
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To: ecomcon

Whaddaya know? Bushwhacked yet again!


14 posted on 06/17/2013 8:24:02 AM PDT by 9YearLurker
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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)
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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.)
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To: ecomcon

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


17 posted on 06/17/2013 8:26:09 AM PDT by Rusty0604
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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.)
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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.)
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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
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