Anwika Palle Week 10 - Powerful (Wealthy) Controversies
Jeff Bezos currently has a net worth of 175.5 Billion USD. On Forbes’ Billionaires 2021 list, Jeff Bezos came in first, followed by Elon Musk, Bernard Arnault, Bill Gates, and more. Although I think we can all agree that this list comes as no surprise to us, I thought it was interesting that Bezos was able to retain this position even after stepping down as Amazon’s CEO in July 2021, and instead taking the position of the executive chairman. The wealth that Bezos holds is almost limitless, and this can account to the significant amount of power he holds.
Last year, I remember coming across infographics and articles criticizing Bezos for not using his wealth to solve major world problems. After Bezos spent several billions for a trip to be launched into space, people on twitter took to the idea that he could instead be solving world hunger. The $5.5 billion that he used to go to space in competition with other billionaires such as Elon Musk and Richard Branson, reportedly could have saved 37.5 million people from hunger in 2021. According to The International Food Policy Research Institute, it is estimated that it would take anywhere from $7 billion to $265 billion per annum to end world hunger.
If Bezos were to “end world hunger,” he would need help from other billionaires. Likewise, many billionaires are commonly criticized for using their wealth for personal advances (often relating to technology), rather than for the benefit of those who suffer. When I first came across these arguments, I was in support of those who claimed that these billionaires should help the world instead of themselves. However, I now understand that there is so much more to it than just using their wealth to carry out these tasks. Powerful people consist of these billionaires and wealthy people. Regardless, everyday those in power are being told how to use their power. Some listen to the public and take their thoughts into account, while others don’t, which creates controversies and criticism. Among some of these controversies causes the question to rise of whether or not powerful figures/leaders should be told how to use their power.
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I would say that the rich can use their money however they’d like to, but that doesn't mean that we should necessarily let them just because that’s their money. Having the world’s wealth concentrated at one end of the spectrum essentially stifles the talent and potential of all others. “With great power comes great responsibility” is not just a personal conviction but also one that is dictated by the natural course of reaction. Those in power are naturally the focus of many discussions regarding the state of society. I would say the “right thing to do” is dictated by the majority under any circumstance; thus, if the majority is not benefitting from the existence of billionaires then their existence will be wrong. I honestly don’t know what I am saying, I literally have no opinion on the subject because I find moral debates pointless.
ReplyDeleteHi Anwika,
ReplyDeleteI found your blog post as an interesting thought experiment in morality. I believe that every individual should use what they have earned for their own personal benefit, but governments should control how much every individual can earn in the first place.
If a businessman earns billions of dollars through providing goods and services that create value for society, they have a right to every penny they have earned. Then, it is the job of the society they live in to determine how much of their wealth should be taxed to provide benefits to others.
Sincerely,
Krish
Hi Anwika,
ReplyDeleteI am aware to tread carefully with what I say and write about this subject. While I certainly think that they should be convinced to contribute more, I think its fair to ask ourselves if we would do the same. In a capitalist economy like America's, we've been conditioned to think of wealth to thrive on the illusion of hard work equaling success. Elon Musk worked for his money, and like you said, he has the right to use it how he wants, provided that his uses are legal. In the end, every person has the right to exercise their own rights.
Sincerely,
Sean
Hey Anwika, I feel like the mindset of these billionares (and wealthy people in general) is that they supposedly put in a lot of work to get where they are today, and they don't want to share it with anyone. People will always want something, even if they feel like they've succeeded in every area of life, they will always want more; it's just human nature. These billionaires also have a ton of power in the sense that they can do whatever they want and people will always have something to say about it, but they will continue to do it anyway because there's no one to stop them. This is a very interesting topic; thanks for sharing!
ReplyDeleteHi Anwika,
ReplyDeleteI agree with you that the topic is very complicated. One side of the debate might argue that if every citizen in America (~334 million) donated between 10 and 20 dollars, then the $5.5 billion would be easily raised and the 37.5 million people saved from hunger. Of course, this is unrealistic since not all people might have enough money to do so, but people with more money could cover for them. In fact, we could collect amounts of money from citizens based on how much money they have! We could easily collect enough money in an affordable way for everybody! Can you imagine the outrage caused by this new policy? Imagine paying $1,000 while your neighbor pays $10. Wouldn't you be angry at this unfairness? Would you look for ways to reduce the amount that you need to pay? (Does this whole situation sound like taxes? What a great use of tax dollars!)
Sincerely,
Raymond Yu
Hey Anwika,
ReplyDeleteAs I was reading your post, I found myself jumping to the same conclusion that you came to towards the end. I feel like despite the perhaps corrupt methods they used, all these men used the system that society constructed and made their power. And while media and the public may dispute their reputations, Bill Gates and Jeff Bezos both undoubtedly massively changed our lives for the positive. It is not our place to tell these people how to use the power they worked for.
Hi Anwika,
ReplyDeleteEven though it is debated whether or not these rich people should be told to use their power, I do believe they should be using that money to help people in need. The wealth disparity between the upper class and the middle class is huge. We were shown a graph to visually show us the difference, and I was astounded. I don't think rich people need to "solve world hunger" or anything huge like that, since it is their money and they can do what they want with that. But I do believe they should work towards helping people more in need than them.
Hey Anwika!
ReplyDeleteI really like how you focus on historical figures. Your appreciation for history is really cool and something I share. I think the topic of Jeff Bezos and his wealth is very trivial. I hear many people argue about what he should be doing with his money. They say if he distributed it, he could end world hunger and such. It is something interesting to consider but we need to put ourselves in his shoes. At the end of the day it is important to consider that it is his money, therefore his choice on what to do with it.