Creating Capital: Money-making as an aim in businessLipman, Frederick L. (Frederic Lockwood)
Philosophy
Creating Capital: Money-making as an aim in business
Lipman, Frederick L. (Frederic Lockwood)
Business; Saving and investment; Wealth -- Moral and ethical aspects
Now, what is the wise choice for the laborer? Leaving out of account
special cases where he has a large family, or sickness at home, or is
under some other disability which in his individual case would reduce
his earning power or increase his minimum expenses, ought he not to
work for the six days, putting aside all he could of the excess as
savings for the future? It will be generally conceded that this is
self-evident. If, viewing the narrow conditions under which the
workman ordinarily lives, it should be claimed that during a period of
unusual earnings self-gratification would be not only natural but
measurably justifiable, the reply could be made that this is merely
specious, involving assumption not in accord with the facts. Excuses
of this kind we often make for ourselves in the endeavor to justify
our indulgence in present pleasure rather than perform the irksome
duty of self-restraint. The laborer whose ideals are such that he
quits at the end of the fourth day is not the type of man who is going
to spend the two holidays in pursuing higher aims in life; he is going
to pass them in inaction, quite likely at the grog-shop. The man who
fails to take advantage of the security for the future offered him and
his family through the opportunity of saving from extraordinary
earnings is one who is adding to the abnormal demand for such things
as phonographs, jewelry, spirits, and tobacco. And this helps to
explain the tremendous market for luxuries during wartime. Doubtless
there are many workmen who follow a more rational course, who are
reaping and storing the harvest for the comfort and security of
themselves and their families during the winter of life. Could any one
think that this policy involved an aim that was sordid, tending to
draw them down, and away from higher considerations of life? Certainly
a course of careful planning in one's affairs would be in so far a
better course and on a higher plane than indulgence in idleness or
shiftless expenditure of surplus for present luxuries, regardless of
future need.
This case of the workmen under conditions of abnormal wages seems
exceptional; yet the choice so presented to him is not very different
fundamentally from the choice normally presented to all the rest of
us.
Public-domain text, read in full here on John Shaqi.
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