As Adam Smith wrote in The Wealth of Nations, for most rich people "the chief enjoyment of riches consists in the parade of riches, which in their eye is never so complete as when they appear to possess those decisive marks of opulence which nobody can possess but themselves."
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Because the merely affluent are diminishing the ability of the very rich to derive pleasure from positional goods, philanthropy might become the final form of positional competition...When rising consumption of luxuries produces declining enjoyment of vast wealth, giving it away might be the best revenge.
I would like to call the poorest from India to gift something for these people.Just to make them aware that they have not done great for the country. Moreover, measuring someone's wealth with the share market's worth is not correct. It is fragile and may be brought down at any moment.
RE:Rich and Poor
by Aftab on Nov 15, 2007 12:10 PM
It is good idea to start CHARITY FOR THE AMBANI BROTHERS first and for the remaining after seeing the response.
The begging bowls should be kept at every lampost to make them richer and richer.
Barring few , most of the business houses desrve such treatment.
If these guys are rich..so what... they are not going to donate money to ppl who praise there wealth.. Rediff.com please stop posting articles about other ppl's wealth. It is not in good taste.
RE:RE:How much do they give to charity?
by Prakash Gomathinayagam on Nov 15, 2007 12:01 PM
If they give away the money to 300 million. each one will get $60.
The article mentions that L.N. Mittal's wealth at $51 billion makes him the richest Indian and Mukesh Ambani is close on his heels with $41 billion. At today's exchange rate the difference ($2billion) comes out to Rs. 7800-8000 crore.
This very amount (if spent so) is stated as "a whopping Rs. 8,000 crore defense deal or infrastructure project or educational project". Is it that big a deal to spend such money on such noble causes? Food for thought???
