Historically, there were two ways to get rich: hard work and inheritance, apart from hitting the jackpot or robbing a bank of course. Now, in a world of ethically challenged public servants, there is another way – public service.
Inheritance, for the few, is still a powerful means. Four of the ten richest members of Congress have inherited wealth. In 2012, Keith Alexander, director of the NSA, called cybercrime the greatest transfer of wealth in history. That may be true, but in 2000 the Planned Giving Design Center (PGDC) estimated that between 1998 and 2052 $41 trillion will pass from one generation to the next – the greatest foreseeable transfer of wealth in the history of the world. Nevertheless, those funds will only go to a lucky few.
Most wealth in the U.S. has been self-made. Aspiration, inspiration and perspiration, with a dose of luck, have allowed millions of Americans to become wealthy, and a small number to become very rich. Rags to riches stories, like Horatio Alger and the Rollo Books, were once commonly read by young people, providing inspiration to succeed. For millions of immigrants, America represented the fulfillment of a dream. Unlike “the old country,” it made little difference where one was born, or what was one’s name; a desire to better one’s self through hard work was what mattered. Independence and self-reliance were valued qualities.
While money and politics have long been soul-mates, the relationship has only strengthened in recent years. Ironically, while we have become a nation that encourages dependency by providing more and more services, we have also become intrigued with wealth and with the things money can buy. We are fascinated by homes that cost over $100 million; the Wall Street Journal has a section on Thursday’s called, “Mansions.” The Financial Times has a weekly glossy magazine entitled, “How to Spend It.” A Norman Rockwell painting that graced a $0.15 copy of a 1951 edition of the “Saturday Evening Post” sold for $46 million late last year. Idiosyncrasies of the rich are regularly featured in glossy magazines, on TV and on the internet, allowing vicarious feelings of jealousy to gestate. We admire Pope Francis, but would prefer to live like New York’s Cardinal Timothy Dolan. It is unsurprising that in such a milieu, a $174,000 a year Congressman or a $400,000 a year President would feel he or she had been left behind.
A focus on materialism permeates a bloated government bureaucracy. In the past, there were workers who would willingly give up some income for security. Government jobs fit that request. Those jobs were less responsive to economic challenges and less subject to the whims of private sector owners or managers. In that prior time, reduced risk of job loss equated to less pay.