Birthright

[JOEBIALEK]

Birthright is defined as a right, privilege, or possession, such as property, to which one is entitled by birth. In his article "Taking Luck Seriously" Matt Miller suggests that birthright results in the "inherited package of wealth, health, genes, looks, brains, talents and family." Approximately two-thirds {or more} of all wealth in the United States is inherited by birthright. In a recent study conducted at Ohio State University's Center for Human Resource Research, author Jay Zagorsky stated "Intelligence is not a factor for explaining wealth." Therefore, one may draw the conclusion that most business and political leaders are not intelligent. They did not earn their way into powerful positions but rather were manipulated into them because of birthright. This further begs the question: then why are they in charge? Why is it that our country is not run by the best and brightest? Does the merit system stop when one graduates from school? While intelligence is certainly not the only factor in determining who is most fit to lead our society, it is certainly a better measure than birthright. In over two hundred years the United States has failed at overcoming one of the biggest barriers to a just society. We refuse to find a way to limit the benefits of birthright and therefore make for a fairer {and better managed} society.

"A Decade of Executive Excess,'' the sixth annual survey of executive compensation by the Institute for Policy Studies and United for a Fair Economy, finds the ratio of top executive to factory worker pay has exploded this decade from 42 to 1 in 1980 to 419 to 1 last year. Why are we paying these people so much more if they don't have the intelligence and will to act in our best interest? What tangible proof is there that top executives contribute that much more to the successful attainment of corporate goals? Why aren't these executives {Enron} given longer prison terms than car thieves? If intelligence determined corporate leadership rather than birthright, the compensation ratio would be much lower because smart leaders would recognize it as the right thing to do whereas those that are there by birthright simply don't know any better {or care}. It is this ignorance perpetuated by birthright that is leading this country to collapse. Perhaps someday our society will be lead by intelligent people who see their own best interest as having promoted society's best interest.

[DubStyle311]

In a capitalist society, wealth is more a factor of risk taking than intelligence. You can be the most intelligent person in the world, but if you refuse to take any risk, its unlikely you will really become "wealthy".

Why should you? If you're not the one risking your time and capital, why should you reap the benefits of that risk because you are more intelligent. I've come across a few complete morons who are fairly wealthy because they had the balls to start their own business and live and die by it.

[higherthanamile]

You're on the mark, Dub. Just last night, I was watching Larry King interview Al Pacino, his second appearance on LK in 20 years. Asked about his success and being awarded a recent Lifetime Achievement Award, he commented that a good friend of his once said, 'You're as good as the chances you take.'

Abso-friggin-lutely.

Without the risk of failure, you can never appreciate the benefits of success.

HTAM

what's that hav to do with CEO pay? their pay should be based on performance, too often failed executives just move from company to company as part of an old boys network, and it's the workers(those most responsible for a companies success) left high and dry

[DubStyle311]

Do you really think that companies would spend near a half billion dollars on premier CEO's if just anyone could do it?

Do you really think these companies are paying CEO's millions of dollars because they are part of some "old boys club", rather than because they have a proven track record of success?

Look at one of the most famous CEOs ever, Jack Welch. The dude came out of a fairly middle class family and became one of the most successful and well paid CEOs ever. He got there for many reasons, none of them being "birthright".

yea, absolutly(bobby clarke)> sometimes to the point of shareholder revolts

i do agree completely that risk taking is more valuable an asset then intelligence, not just in creating wealth: life in general

[Mercury]

Risk taking isn't as much a factor of CEO success as is who you know and a shameless ability to fuck your community for profits. You network with other high powered executives to grow both your pockets and theirs at the expense of the average joe consumer. They're the ones who dictate how much we pay for our lives and there is no way that should be their inherent birthright. No way.

[DubStyle311]

LOL @ the clarke reference. Point taken but with sports you have a lot of other factors that come into play. Although, take a look at Ed Snider. He made the majority of his fortune through balls, shrewd business deals, and foresight into the way sports broadcasting would evolve. His deal with PRISM was absolutely brilliant and took a lot of risk on his part.

he killed the sixers as a franchise tho when he let croce walk

[DubStyle311]

Meh, Croce had next to nothing to do with the construction and execution of the team. He was more a marketing man than a basketball guy. Not to take away anything from him - he was a marketing genius for the sixers and was a huge part of the teams turnaround. Just not so much from the basketball end.

Look at Croce though. A completely self made millionaire. The dude came from nothing and because he was smart, he got into the then infant field of physical therapy. He had the balls to create his own chain of PT centers which eventually got baught by NovaCare. He took that money, and risked it all buying a huge stake in the worst NBA franchise in the country.

Then he RESIGNED from that job because Ed Snider wouldnt let him run ComcastSpectacor. The dude had a extremely high paying job as the president of the then strong Sixers franchise and he walked away cus he wanted to be the man in charge.

There is a type of personality that the truly successful and wealthy people have that took them to that position. It has very little to do with a "birthright".

I read Croce's first book. Its really great.

croce's an inspiring guy, snyder has lost his edge

[higherthanamile]

Read up on Charles Schwab. Yes, THE Charles Schwab.

THAT is a success story of a dyslexic man who pioneered the discount brokerage house.

Inspiration from Charles R. Schwab

That thread dispels the birthright theory so many subscribe to in my opinion.

HTAM

[JOEBIALEK]

good points

[kamikazi89]

yea ok..i hope you guys enjoy that 40 mil as you rot in hell

[ProfessorMurder]

Why make Millions, when you could inherit... Billions???



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