The Principles of Economics, with Applications to Practical ProblemsFetter, Frank A. (Frank Albert)
General
The Principles of Economics, with Applications to Practical Problems
Fetter, Frank A. (Frank Albert)
Economics
6. _The larger moral problem involved in luxury is connected with
distribution or the justice of the income, rather than with consumption
or the spending of the income._ The individual effects of luxury broaden
thus into the larger social effects. Most of the enemies of luxury
condemn all expenditure of wealth above a very moderate sum, declaring
that it is "unjust" for one man to have much while others are in
poverty. This communistic doctrine pervades the teaching of many moral
teachers, pagan and Christian. In many ways a public opinion can be
developed to disapprove and condemn ostentation. Frivolous display
becomes bad taste. Flaunting riches meet the public frown. The spending
of income for dress and display has never been successfully forbidden by
law. The Middle Ages are full of futile sumptuary laws which sprang from
the envy of the nobles for the wealthy merchants. The growth of good
taste may do what formal law found impossible.
[Sidenote: Increasing social uses of wealth]
The use of wealth in these days is taking more social directions. It
turns from dress toward education, art, music, and travel; then ceases
to be applied merely to self and family, and benefits the community.
Nowhere and never before has this movement gone so far as in America.
Andrew Carnegie, with his gifts of millions annually to public
libraries; Peter Cooper, founder of the People's Institute; Ezra
Cornell, the patron and prophet of the modern type of higher
education--are citizens of a kind better known in this country than in
any other.
[Sidenote: Justice of the large income]
[Sidenote: Legal repression of luxury inadvisable]
The immorality of luxury rests in most minds on the conviction that it
is unjust that any one should have so large an income to use. The
question of luxury leads back to the question of distribution: Has the
man honestly gained his wealth? If so, he may spend it with good
judgment or poor, with good taste or bad, but, so long as he does not
injure others in the spending of it, there is much vagueness and
confusion in the talk of "justice" or "injustice." Each must in large
measure be his own judge of the wisdom of expenditure. Luxury is not
always a question of wealth. Every person of moderate income has
relatively superfluous and expensive tastes. One spends more for music
than many a millionaire does; another more for books. How many college
students' budgets could pass the censorship of Hetty Green, reputed to
be the richest woman in America? If expenditures were regulated by the
public, few persons would be within the law. But whatever the goods that
are bought, if income is unjustly acquired, if its distribution is by
rules that do not give the best possible approach to social service,
there may well be talk of injustice. There is need of better standards
of taste and judgment in expenditure, but not of sumptuary laws. If
there is any legal change, it should be rather in the law of property.
CHAPTER 41
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