So soon as the possession of property becomes the basis of popular
esteem, therefore, it becomes also a requisite to the complacency which
we call self-respect. In any community where goods are held in severalty
it is necessary, in order to his own peace of mind, that an individual
should possess as large a portion of goods as others with whom he is
accustomed to class himself; and it is extremely gratifying to
possess something more than others. But as fast as a person makes new
acquisitions, and becomes accustomed to the resulting new standard of
wealth, the new standard forthwith ceases to afford appreciably greater
satisfaction than the earlier standard did. The tendency in any case is
constantly to make the present pecuniary standard the point of departure
for a fresh increase of wealth; and this in turn gives rise to a new
standard of sufficiency and a new pecuniary classification of one's
self as compared with one's neighbours. So far as concerns the present
question, the end sought by accumulation is to rank high in comparison
with the rest of the community in point of pecuniary strength. So long
as the comparison is distinctly unfavourable to himself, the normal,
average individual will live in chronic dissatisfaction with his present
lot; and when he has reached what may be called the normal pecuniary
standard of the community, or of his class in the community, this
chronic dissatisfaction will give place to a restless straining to place
a wider and ever-widening pecuniary interval between himself and
this average standard. The invidious comparison can never become so
favourable to the individual making it that he would not gladly rate
himself still higher relatively to his competitors in the struggle for
pecuniary reputability.
In the nature of the case, the desire for wealth can scarcely be
satiated in any individual instance, and evidently a satiation of the
average or general desire for wealth is out of the question. However
widely, or equally, or "fairly", it may be distributed, no general
increase of the community's wealth can make any approach to satiating
this need, the ground of which is the desire of every one to excel every
one else in the accumulation of goods. If, as is sometimes assumed, the
incentive to accumulation were the want of subsistence or of physical
comfort, then the aggregate economic wants of a community might
conceivably be satisfied at some point in the advance of industrial
efficiency; but since the struggle is substantially a race for
reputability on the basis of an invidious comparison, no approach to
a definitive attainment is possible.
Public-domain text, read in full here on John Shaqi.
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