Clay breaks down Andrew Carnegie’s book, The Gospel of Wealth. In June of 1889, the world’s second wealthiest man published a book titled, The Gospel of Wealth. Want to hear it? Here it goes.
Show Notes – https://docs.google.com/document/d/112LBR4ZSFZk1kI6DTRWicgPGZF1CHZCyvfagUTvlV0I/edit?usp=sharing
Podcast Audio – https://www.dropbox.com/s/e4547it7y4xso1u/8.4.19%20-%20Knowledge%20Bomb%20-%20Socialists%20Are%20To%20Be%20Regarded.mp3?dl=0
Download Now: https://www.carnegie.org/publications/the-gospel-of-wealth/
NOTABLE QUOTABLE – “If you want to be happy, set a goal that commands your thoughts, liberates your energy, and inspires your hopes.” – Andrew Carnegie
NOTABLE QUOTABLE – “Do your duty and a little more and the future will take care of itself.” – Andrew Carnegie
NOTABLE QUOTABLE – “It was from my own early experience that I decided there was no use to which money could be applied so productive… as the founding of a public library.” – Andrew Carnegie
NOTABLE QUOTABLE – “There is little success where there is little laughter.” – Andrew Carnegie
NOTABLE QUOTABLE – “You are what you think. So just think big, believe big, act big, work big, give big, forgive big, laugh big, love big and live big.”- Andrew Carnegie
NOTABLE QUOTABLE – “Anyone who does not provide for their relatives, and especially for their own household, has denied the faith and is worse than an unbeliever.” – 1 Timothy 5:8
NOTABLE QUOTABLE – “23 Whatever you do, work at it with all your heart, as working for the Lord, not for human masters, 24 since you know that you will receive an inheritance from the Lord as a reward. It is the Lord Christ you are serving.” – Colossians 3:23-24
NOTABLE QUOTABLE – “24 He that spareth his rod hateth his son: but he that loveth him chasteneth him betimes.” Proverbs 13:24
NOTABLE QUOTABLE – “The thoughtful man must shortly say “I would as soon leave to my a son a curse as the almighty dollar.”
Grab the duct tape and mentally prepare yourself for yet another mind-expanding knowledge bomb from America’s number one business coach. Clay Clark.
Yes, yes, yes. Andy. Yes. Jason. Typically when we do a knowledge bomb episode of the thrive time show, it is short, it is pithy and it gets to the point. However, this knowledge bomb is going to take us about an hour to get through and most of that hour will be spent with our listeners judging you as you read a book to them. That was published way back in the day. Uh, this, this book was, came out in the end and it was at the hot, it’s a, it’s a new book. It came out in June of 1889 Ooh, new book, brand new June of 1889 and it was written by a man who at the time was the world’s wealthiest man, ah, for a while. And then he went, at the time of his death, he was the world’s second wealthiest man. His name was Andrew Carnegie. Somebody should write that down.
It’s Andrew Carnegie. Write that down. Andrew Carnegie. Now, Andrew Carnegie, if he was in fact the world’s wealthiest man and or the world’s second wealthiest man, I think it would make sense for us to maybe ponder and say, who is this guy and why would he put out this book? If I have any book he could go, he could have written. Apparently it was pretty important. I mean, apparently it’s pretty important or he felt it was important. If he’s going to write a book of all the things he could’ve written about, he wrote this book and he released it in June of 1889. Now, let me give you, uh, some fun factoids about Andrew Carnegie. One, he is the home boy. He is the man. He is our, he is our brother from another mother who essentially brought you in either library. Oh, so if you’re out there going to the library, you’re familiar with libraries, perhaps you should know that Andrew Carnegie is the man. You should thank for this too. In 1901, he sold his company, Carnegie steel to J P Morgan for 480 million. And you might say, whoo. For an 80 million. That seems like a lot of money. I mean, today’s money, $480 million is a lot of money in today’s money. If you sold a business today for $480 million, we all would say
[inaudible]. Go ahead. Hi Andrew.
Yeah. However, if you adjust what he sold the company for back in 1901 with inflation, if you said, how much is 480 million? If it was 480 million in 1901 how much would it be worth today? So again, there’s inflation. You know, the cost of over time money’s devalued and due to due to governments printing more money than we have, et cetera, et cetera, they’re, they’re spending more money than we then we’re bringing in. So we print more money, thus devaluing the money. How much do you think $480 million, Jason and today’s money would be worth? Because in 1901 it was 400 he sold his company, Carnegie steel for $480 million. How much do you think that would be today? I got to say in the billions
what do you think? Hard number. Uh, let’s go Tilman Fertitta and say 4.6, 13.23 $4 billion in my face. So $13 billion as of in today’s money. That’s a lot. When he started working, he started working when he full time, 12 hours per day to help his mom and dad, uh, make ends meet because his mom and dad, uh, were immigrants and they didn’t have any money and they needed their young son at the age of 13 to drop out of school to start working with them. So, and th his dad worked in a factory and at the age of 13, he started working with his dad in the factory to make ends meet as a bobbin. Boy, that was the title bobbin boy. Now how much money do you think he made per week? Adjusted for inflation. So today’s money, how much money do you think he made per week as a bobbin?
Boy, Jason? One. I have no idea what a bobbin boy is, but it sounds interesting. Um, per week, I’d say. And you said today’s in today’s money. Yeah. Today’s might take get you, you, this is a, an opportunity to earn 2000 and make points. Well, I know that they were pretty chintzy back in the day, so I’m gonna say 30 bucks a week. Impressive. He made $36 and 16 cents closest going over. Unbelievable. He met him. He brought in $36 and 16 cents per week as a bobbin boy. Now I can’t believe that. You don’t know what a bobbin boy, I mean how many times if I get to how many times I’ve applied for a job as a pop and boy, a Bob and boy was a boy who worked in a textile mill and the 18th and 19th centuries they would bring bobbins. Whoa. Okay. So are to the women at the looms when they called for them and collected the full bobbins of spun cotton and wool thread, do you know what a bobbin is?
No. A bobbin is a cylinder or cone holding thread, yarn or wire until used, especially in weaving machine weaving and lace making. I get to make a point. So then just say cylinder or cone. Don’t, don’t try to make it a fancy thing. So let’s call it a cylinder or cone holding thread. Yarn wired. Boys young. Have to call you the cylinder boy. Okay, so now we’re going to read his book, the gospel of wealth, but before we do that, I have five notable quotables I’d like to read from the late. Great. Andrew Carnegie’s. I’m going to read the, the little notable quotable and I’d like for you Jason to try to break down what it means. All right, so notable quarter will number one from Andrew Carnegie. He said, if you want to be happy, set a goal that commands your thoughts, liberates your energy and inspires your hopes.
What does that mean? I think it means make an actual measurable, attainable goal. Most people have that like ethereal feeling like, Oh, it would just be so great if I were to do this, or like the whole trivial, I want to lose five pounds by summer. But if you just have that thought, it’s not going to get you anywhere. But then if you set like an actual measurable goal, not only are you working towards it, but it’s thought provoking. You have to strategize about it. You have to measure your success in order to to be able to get there. I think you are three quarters of the way there. I just want to pile on that final quarter. Let’s do it. He says if you want to be happy, set it, go. That commands your thoughts, liberates your energy and inspires your hope. I agree with that.
You set that goal, but he’s also talking about how complacency is why people get depressed. True. So it’s interesting. I’ve met a lot of very successful entrepreneurs who have been clients of mine or who are clients of mine or who I’ve met at conferences and they work super hard to build a business and they sell it for millions of dollars and you know what their overall feeling is after they go on that big vacation or after they sell that company and do nothing for a month or a week or whenever somebody just relaxes for one week. They sit on a beach for one week or they sell the company and they don’t work for a year. Do you know that feeling is that they always have after vacationing for an extended period of time? I would assume it’s the, uh, what now they’re almost always depressed. Yeah. And it’s because the re you get an eerie when, you know, when you complete something, you get a reward called confidence.
So that’s why when you do nothing, uh, you, you, you get depressed. Right? So, so interesting. People always want to retire and then when they get to retire, they’re there. They’re bored and they feel lonely. Mm. So he’s talking about, Hey, you gotta set a goal that commands your energy, that makes you move, that makes you take action steps. But if you ever just sit back and sip my ties while, uh, you know, reading through people magazines for two consecutive weeks, as you lay on the beach, you’re gonna get depressed. Then the next notable quotable he says is, do your duty and a little more in the future will take care of itself. Again. He says, do your duty. And a little more in the future will take care of itself. Uh, Jason, why were we serving free hamburgers to the members of the elephant in the room yesterday?
When I say we, I mean you are. Why were we grilling hamburgers for the members of the elephant in the room? Men’s grooming lounge yesterday. One, we want to make them feel appreciated for coming in month in, month out. We love those guys. They’re great guys. Yeah, and then at the same time, it’s like the same reason that we upgraded from our regular janky men’s to our Andy’s men’s is we want to do that one little extra thing that’s going to over deliver that way they are happy every single time. You exactly right. If you, Oh, by the way, you get a 7,206 whew. Making points. Oh no. Sorry. Sorry. My bad. It’s 18,207 influence your scoring at home. So I want to make sure we’re getting this though. If you do more than you’re paid to do, eventually you will be overpaid. Right? If you do more than you’re supposed to do, eventually you will be overpaid.
If you over-deliver, if you exceed the expectations of others, you will win. If you do just enough or not enough, you will lose. You have to over deliver and exceed the expectations of the people that you work with. If you over deliver, if you exceed the expectations of the customer, of your boss, you will eventually be promoted. You will be tipped. Good things will happen. Now if you do less than you’re supposed to do or just enough, great things do not happen. Andrew Carnegie writes, do your duty and a little more and the labor will take care of in the future will take care of itself again. Do your duty and a little more in the future will take care of itself. The next notable quotable from Andrew Carnegie is, is this just in from our home office? It was from my early experience that I decided there was not no use to which money could be applied so productive as the founding of the public library.
Cause he grew up in a time when having access to books was like very, very prized. Yeah. Where do you get books in that time? Uh, well he did is he worked for this guy and he’s 12 years old, 13 years old. He’s working as a bobbin boy for this guy and he gets to work early and he stays late and he exceeds the expectations of his boss continually until the boss rewarded him by doing what? What do you think the boss rewarded him by doing? He’s a 13 year old kid. What do you think the boss notices, man, this kid’s getting it done. He gets to work early. He stays late. What do you think the boss did to reward him? Did he give him a book? He gave him access to come to his house and to borrow any book he wanted. Wow.
Which thus came up with the, there was the idea for the library. Did he give him a little plastic card and he’s like, no, if you don’t have this, you can’t take a book. A no. And he also didn’t, but this was an a a huge thing to have access to a book that was one of the separations between the poor and the wealthy was if you had access to knowledge you could become successful. But if you didn’t you couldn’t. And so having access to the books, it was like a golden key to financial freedom. It was awesome. Now Andrew Carnegie’s has another notable quotable here. He says, this is an awesome notable quotable that I love. There is little success where there is little laughter, there is little success where there is little laughter. Jason, can you explain the uh, atmosphere up here at the thrive time show and why people are always laughing and having a good time.
Oh, it’s rocking. I mean it’s like any romantic comedy. I’m just kidding. No, it’s there. There’s just this culture of positivity. We have a super bumping, high paced high BPM playlists going all the time. Yup. You’re constantly cracking jokes. John’s always singing to the point where my clients just, they come into hear him sing. It’s awesome. But, uh, there’s always something good happening. So it’s hard to be in a bad mood over here. Now I can tell you, we had a guy on Friday, I’m not sure when this podcast comes out, so we don’t know what day it actually happened. I can say a guy I got in Friday, I’m walking as I tell you about this guy. I don’t think so. Walking out of the, walking out of the office and I, uh, one of our team members pulls me aside and says, Hey, this guy’s been complainant says he doesn’t, you know, like working here.
And the pressure of being, you know, it doesn’t like the pressure they were putting on them and in the call center and the pressure we’re putting on them. And, and so I said, uh, well it’s fire and why and why would I fire somebody who’s complaining to coworkers, Jason, why, why would I do that? Cause if you have that one low energy person that’s going to completely disrupt the flow, that’s keeping everybody happy and productive, it’s going to fester over time and get worse and worse. Cause I mean I’ve seen it in shop, you know, luckily we have a great team right now. Yep. So we don’t have to worry about it. But there’s been plenty of people where you come in and you know, elephant culture set up just like it is here. Yup. Fast playlist. The only prerequisite is you come in with a happy attitude.
Here you go, wanting to be awesome. But you have that one person who just wakes up and I just had a bad day and I want to tell you about it. And then as they do that, the next person starts to feel negative and then they want to talk about their bad day and how it affected them. And it just goes on and on and on. So again, if you work for me and you yawn a lot and you’re not laughing, having a good time, it’s weird. But you will be fired for not having a good time, which is where it’s a self perpetuating cycle. I think it’s awesome. I mean I’ve worked in so many different corporate jobs where the whole industry is just gloom. It’s great cubicles, fluorescent lighting. Everybody’s like, Whoa, who are you doing or good wounds do took do most. And then Thursday, how are ya?
Another dude or the dollar and then Friday, how’s it going? Almost ready for the week. I mean it just the same cycle, right? Unbelievable. So again, Andrew Carnegie writes, there is little success where there is little laughter. Our next third of a quarter we’ll come in and hot from Andrew Carnegie is this, you are what you think. So just think big. Believe big. Act big work big. Give big. Forgive big laugh. Big love big and live big. You are what you think he says. Just so just think big. Believe big. Act big work big. Give big. Forgive big laugh. Big love. Big and live big. One of the uh, powerful, powerful, ah, teaching moments I hope the listeners get today is stop setting small stupid goals for yourself. Stop making it your dream to have a really crappy house. Stop making it your goal to have a really crappy lot in life.
Dream big. Make no small dreams, make big dreams. It takes just as much time and effort to make a small goal happen or a big goal too. So set big goals. And now that need further ado, let’s get into the reading of the gospel of wealth from the late great immigrant Andrew Carnegie. All right, Jason, what do you got? The problem of our age is the proper administration of wealth so that the ties of brotherhood may still bind together the rich and poor and harmonious relationship. The conditions of human life have not only been changed but revolutionized within the past few hundred years. In former days, there was little difference between the dwelling duress, food and environment of the chief and those of his retainers. The Indians are today where, uh, where civilized man than was when visiting the SU. I was led to the wigwam of the chief. It was just like the others and external appearance and even within the difference was trifling between it.
And those of the poorest of his Braves, the contrast between the palace of the millionaire and the cottage of the laborer with us today measures the change which has come with civilization. This change, however, is not to be deplored but welcomed as highly beneficial. All right, quick timeout. So what he’s saying so far is that in the history of humanity for a long time there wasn’t a huge difference between super rich and super poor people. Okay. That because there wasn’t, uh, so many accoutrements, so much swag, deliciousness, couture. But during the United 1901 at the time, Andrew Carnegie puts out this book, a super wealthy guy was balling. I mean he had a huge mansion. He had all the accoutrements, he had all the swag deliciousness, he had all the material possessions that you could possibly want and the poor guy had little. So he’s like, over time there has been a bigger divide between the wealthy and the poor.
And he’s saying in a nice way, but he’s saying that’s a good thing. Right? So let’s see if we agree with Andrew Carnegie back to you in the booth, Jason, which is great cause I’m in the booth. It is well nay essential for the progress of the race that the houses are, that the houses have. Some should be homes for all that is highest and best in literature and the arts and for all the refinements of civilization rather than none should be so much better this much better, this great irregularity than universal squalor. Okay. Where did like, so again, I want to make sure we’re getting this idea. He’s saying it’s better to have a disparity between the rich and the poor than to have universal poverty. Go to Venezuela, go to Brazil, go to Cuba, go to socialist places where socialism, a K a mandatory universal poverty exists.
And let me tell you, that is a bad place to go to when you go to a place where universal poverty is the, is the rule of the land. Because the law of the land, because of socialism, where everybody gets the same amount, when everybody gets the same amount, nobody strives to do a good job. Therefore, there’s no innovation, there’s no improvement, there’s no inventions, and the world just stays bad. But when you are chasing the prize called capitalism called cache, called winners and losers, there’s all sorts of innovation because people, when they’re selfishly chasing a profit, they’re going to innovate and make great things, whether it be airplanes, cars, software, computers, apps, a websites, everyone’s trying to one up each other. Thus things get better, right? But when everyone makes the same amount of money, things fall apart. Continue. My friend, I used to say, I love the treble to break that down so easily because we’re like three fourths of a paragraph in and homey. You could tell that he read books because he writes like Shakespeare talked, right? Nobody does that. This is why I want to do it, the show with you on this because it’s, it’s, he’s, you know, he’s a deep writer. Yeah. Let’s continue. Without wealth. There can be no, what does that word? What does that word? Let me see. [inaudible]
it’s, it has got the encyclopedia. I’m gonna circle it real quick. Oh, uh, Ooh. Ooh. That’s, uh, let’s see. And it printed weird too. The only time. Okay. So let’s do it. So you read it to me and I’ll type it in and I’ll see if I can find out what it is. What was the, tell me the word again. All right. America. It’s spelled M a. E. K. C. E. N. a. S but it’s got that weird combination. A like encyclopedia. Uh, let’s go with uh, wow. That’s it. It’s um, let’s see here. Okay, got it. Yeah, I think I got it. I got it. Let’s try it. Messiness. Wow. What a creepy voice. A generous patron, especially of literature or art. Oh, so read it again please. Without wealth there can be no messiness but do it again and then don’t say Messina. So I can hit my button without wealth.
There can be no Messina. Oh, do it. Do it again. Cause I’m going to time it where I do that and I hit another button at the same time and it’s going to be awesome how I do it. Cause it’s like I want to hit that button and then I’m gonna hit the Holy cow button at the same time. Let’s go. Go for it again. All right. Without wealth there can be no, Oh nice. Let’s continue. The good old times were not good old times. Neither master nor servant was as well-situated. Then as today, a relapse to old conditions would be disastrous to both, not the least. So to him who’s who serves and who would sweep away civilization with it, but whether the change be for good or ill, it is upon us beyond our power to alter and therefore to be accepted and made the best of it is a waste of time to criticize the inevitable [inaudible].
Okay. It’s a waste of time to criticize the inevitable. He’s saying this is a thing that there is a disparity between super wealthy and super poor people. This being somebody who started working, let’s remember it cause somebody out there is already upset with my man. They’re already upset. Somebody, somebody we got, Oh we got it. We’ve got a socialist listening. Okay. They’re already upset. This being a guy who started working full time, 12 hours per day at the age of 13 for $36 a week. This is a guy who is saying it’s great to have this sort of disparity and Alexandria Ocasio Cortez just called us and then we got her on the phone. Let me, let me pick up the phone real quick and, okay, we’re going, I think we’re going to live with Alexandria. Ocasio Cortez. She has comments on, on so far and Andrew’s book and uh, go ahead caller
he sounds like a man and she’s also a, okay, I think we lost her. Let, let, let me cue up what you just said again.
she has like a cold. Yeah. Socialists don’t like this book at all. We continue my friend. It is easy to see how the change has come. One illustration will serve for almost every phase of the cause and the manufacturer of products. We have the whole story. It applies to all combinations of human industry as stimulated and enlarged by the inventions of this scientific age. Formally articles were manufactured at the domestic Herth or hearth or in small shops, which formed part of the household. So back in the day, things were originally made in a small shop, hand crafted by a person. So as an example, a shoe would be made by somebody who was making a shoe. That’s what they did. Their job was they were a cobbler. They made shoes. Right. Sometimes out of wood because they’re ridiculous. Now let me ask you this, Jason, you, you, you’ve been on the earth for how many years now? 26 hot years. Okay. Um, do you know of anybody who is a cobbler? Personally? No. Really? Yeah, I’ve got, I think my only experience with anybody who actually worked on shoes other than shoes that I bought in the store was I had to have some boots resold. Resold, like you’re selling them again.
I know, man. Oh wow. Impressive.
Thank you, Tim. All right. No, but seriously, seriously, this shoe to, um, have your shoe made today by somebody by hand. Sorry. Still allowing them to, I don’t, I don’t think there’s anybody. I mean, if you apply to go to college and the counselor says, what do you want to do? And you say, I want to be a cobbler. I think they would say
drag is Timothy Johnson, the ophthalmologist from Alabama from way downtown. Bang. All right. But again, he’s talking about how back in the day people actually made the shoes continue. The master and his apprentices worked side by side, the latter living with the master and therefore subject to the same conditions. When these apprentices Rose to be masters, there was little or no change in their mode of life and they in turn educated in the same routine succeeding apprentices. There was substantially social equality and even political equality for those engaged in industrial pursuits had then little or no political voice in the state. But the inevitable results of such a motive manufacturer was crude articles at high prices today the world obtains, come on. Wait, so he’s saying back in the day, the result was you had to pay a ton of money for a crappy shoe. Yes. You had to pay a ton of money for a crappy show.
No, no, surely you can’t be serious. I am serious. And don’t call me Shirley.
That’s [inaudible]. Here’s the deal. Back in the day, back in the day, you had to pay a ton of money for a crappy shoe. Why? Well, he’s going to continue going because he’s gonna explain this to you, but that’s, everybody was making the same amount of money. Right? Right. And where else are you going to get a shoot? It takes a dude like an entire day to make a pair of shoes for you. Yep. So most people had one pair of crappy shoes and don’t believe that the shoes were awesome. Just cause they were handcrafted. You gotta be kidding me? Nope. Especially if somebody knew that no matter how good they, no matter how much money they earned, no matter how good of a shoe they made, they would make the same amount of money. When somebody knew this is how it happened. Okay. A cobbler back in the day, he starts to figure out pretty quick, he’s been making shoes for 10 years.
All right. And he starts to figure out, you know, no matter how fast or slow I go, I make the same man and no matter how good or bad the shoes are, I get paid the same in the most I can ever hope to be is what my boss is and my bosses job sucks too, cause he’s also making shoes. Right. Therefore I’m going to mail it in. Jason, how you have you not seen this at jobs before where people cause up here at this office we have merit based pay. Therefore you can make more based upon what, how hard you are. There it is. But most jobs you make the same. No matter how hard you work or how not hard you work. Have you ever seen people at any of your previous jobs mailing it in when they know they can’t make any more money?
Yeah. Back when he used to work in customer service, I always approach everything like, like it’s a game. Not that I want to be like the best, which I do, but at the same time like how much can I get done because I don’t want to be bored. My whole thing is I don’t want to go to work and then be bored out of my mind. And so we would do email based customer service and calls. If I cleared my email cue out immediately hop on calls my boss speak, Jason, you’re not on calls today. May call, I’m, I have nothing to do. I need to do something. Whereas you’d have other people that would just like doink around at the same email big, well, they’re still going to pay me 10 an hour and they didn’t me a quota on what I had to get done.
So I’m going to type as long as I can on this one. Continue reading the gospel of wealth by Andrew Carnegie today, the world of tans, commodities of excellent quality at prices, which even the generation preceding this would have deemed incredible in the commercial world. Similar causes have produced similar results and the race is benefited there. But as an example, I’m wearing and one shorts today, which I think back in the day people would go. Those man priests are incredible. My wife calls a man breeze cause capris are like the shorts that women wear that are like almost pants, shorts, you know actual man frees are coming back. Are they really? Oh yeah. Well good. Cause I wear them. Okay. So my ed one shorts, I always buy the largest pair I can buy and I buy them for nine 99. Now Todd, those are very cheap, very uh, my under shirts I wear, I always get the ones at Walmart.
I try to buy new ones every week. They’re three 99. Oh yeah. Ah, $44. I mean did George brand is hot? Oh my new move is I go to target the Goodfellow brand. It’s like their, it’s like Target’s version of the gap. You can get six of them for five bucks and I just wear them all the time. What, what? Repeat that. So you can get six what? You can get six of these awesome. Like very modernized shirts. All black. If you’re trying to go the Steve jobs look and they’re like five 99 or six 99 for six of them. Yeah. Holy crap. Batman. Oh, that’s a hot deal. What’s the name of that brand again? It’s Goodfellow and company. You know, you’ll learn. You learn something every day here on the thrive time show. I need to marinade on that kid. Tell us the prices one more time and where and where you’re getting at.
The tell us the brand, the prices, what you’re getting. Tell us one more time as we marinate on that. So you go to this ritzy place called target. Go over to the men’s apparel section and where they have all of their like undershirts get these awesome fitting v-necks or crew necks. There’s five or six in the pack and it’s like five 99 it’s unbelievable. And it’s because over time things get cheaper in a capitalistic economy. Back in the day, 1999 was the time I bought myself a micron computer. What I bought myself, a micron computer, 333 megahertz of Ram. Let me tell you how it sounded, eh. And then I had a monitor. It was a big monitors. Like there’s, I got 25 inch monitor. Wow. And that thing was thick and heavy. I think they loaded those things up with cement and then shipped them.
I mean it was the heaviest. Do you remember old school TVs? How heavy they were and you’d open the back and there wasn’t anything in there, but they were so heavy. It’s crazy. So all I’m saying is that the TV, back in the day, that guy, that computer, which was super slow and the printer, it was between five and six grand dude for that. Right. And it was slow. Now you can buy a Mac mini that’s faster for like $700 yeah. And it’s like the weight of the stack of papers I’m holding right now. It’s significantly faster. Oh yeah. And less words. That’s what happens in a capitalistic economy because Apple is trying to beat the crap out of, let’s say, Dell computers and Hewlett Packard is trying to beat the crap out of Apple and they, they, they do lose every year, but they try and so the cost of computers continues to go down.
I mean, you can get a fairly decent computer now, a good computer for like 300 bucks at best buy. Oh yeah. It’s crazy. It’s crazy. It’s crazy how things get more efficient and less expensive and the quality goes up over time. Unless you’re an idiot communist, AKA AOC, these things make sense. Right, but if apparently if you’re based in New York city and you’re voting and you’re in favor of AOC, apparently the concept of capitalism isn’t being taught anywhere or it’s not being understood anywhere or people are lazy everywhere. I’m not sure what it is. I’m not sure. I think people have gone crazy in New York city since they banned large sugary beverages. The people wanted the large sugary beverages that once they got those banned, apparently they’ve lost a freaking minds and now they’re voting for people like AOC. Continue. Jason the poor. Enjoy what the rich could not before afford.
That sounds so good. Poor. Enjoy what the rich could not before afford. Bam. What were the luxuries have become? The uh, necessary or the necessaries of life? The laborer has now more comfort than the landlord had a few generations ago. The farmer has more luxurious than the landlord had and is more richly clad and better ha or better housed. The landlord has books and pictures rarer and appointments more artistic than the King could then obtain the price we pay for this. A Cellutone salutary change is no doubt. Great. We assemble thousands of operatives in the factory, in the mind and in the counting house of whom the employer can know little or nothing and to whom the employer is little better than a myth. All intercourse. That’s hilarious. All intercourse between them is at an end. Rigid casts are formed and as usual, mutual ignorance breeds mutual distrust.
Each cast is without sympathy. For the other and ready to mutually distrust each case. So he’s saying that as an industrial society improves or gets bigger, it is possible to no longer know your boss, right? Because the company gets so big that you don’t know your employees. So you as an employee start to build a distrust or dislike for your boss. So you’ve never met because you start to envy what they have. And then as a boss, you’re so detached from the reality of the everyday life of your employee that you start to resent their complaining. And it goes on and on and on and on and on. So this is what Alexandria Ocasio Cortez says, and this is why, uh, when she says, is it possible, she says, I believe that every American should have stable, dignified housing. That can’t happen because if you’re lazy, and if you have you met people, Jason, who refused to get a job.
Absolutely. People who are your age. Can you think of somebody around your age who refuses to get a job of who’s about your age? I can think of more than a handful. Okay. And so what do they live with their parents? Where do they do that? Or they have some situation where the parent provides income for their housing but they could work. Absolutely. Yeah. So eventually though, if the parent cuts them off, they’re going to be in be poor, which is a consequence for doing nothing. Yes. And then, and then they would have to get a job but see and rough with under Ocasio his game plan under Alexandria Ocasio Cortez under AOC plan. Her plan is that everyone just gets a free house or free college. Yeah. Now I have to ask you, have you been to college before at a college where people were attending for free?
Yes. And did they value their education? No. I’ve had one friend who got a scholarship who worked his butt off to interesting things. He knew I came from a troubled background. I studied, was able to get this because of my grades. I cannot let these people down. So he over fricking delivered. But I’ve had other people who especially go on to do like sports. Yup. And they get not only a free ride, which is highly sought after, but they get that elevated status because now they’re the big man, their plan for the teams that are on TV. There you go. And that it’s like the more that you get, the easier it is to become lazy and some people just eat it up and then now as a result of that, neither of them were playing football and they don’t have a college degree because they didn’t finish because they wanted to party and be lazy.
It’s interesting how people don’t value what they’re given for free. Right. It’s an interesting how people don’t value what they are given for free. It’s, it’s, it’s, it’s puzzling to me, but it’s human nature, right? It’s human nature. So I encourage you, if you’re out there today, listen to what Andrew Carnegie is saying now, Jason, will you circle where we’re at right now in the book and then we you, I think you have to let dr Breck in the door. Yes. So circle where we’re at right now. Then I will continue reading as you opened the door for the incredible dr Breck and a, just give me one page. It’s all, all I need is this just one page. I’ll read one page of this incredible book, the gospel of wealth as you open the door for our man. Okay, I’ve got this says, each cast is without sympathy for the other and ready to credit anything disparaging in regard to it.
Under the law of competition, the employer of thousands is forced into the strictest economies among which the rates paid to labor figure prominently and often there is friction between the employer and the employed between capital labor between rich and poor human society loses homo genetically. Whoa, Whoa. I gotta look that word up. Homo genetically. I, I, what’s, let’s uh, let’s spell that real quick. It’s H, O, M. O. G. E. N, E. I T. I homo. Let me it up. Homogeneity, homo Genea ETI. Wow. Home homo. He says, all right. He says, wow. Under the law of competition on the law of competition, the employer of thousands is forced into the strictest economies among which the rates paid to labor figure prominently prominently. And often there is a friction between the employer and the employed between labor and capital between rich and poor human society loses its homogeneity. Homo human society loses homogeneity one more time.
It says, everybody say it with me now. Human society loses homogeneity. Homo Genea de homogeneity, homo Genea homogeneity, homogeny homogeneity. We’re getting the third paragraph down here as I’m having a blast. The blast hitting this word here, it says the quality that does this word, by the way, homogeneity means the quality or state of being all the same or all of the same kind. That is what the word homogeneity means. All right, Jason continued KMOJ in this, uh, it says the, the, the quality or state of being all the same or all of the same kind, and that means that, and that word is homogeneity. Okay, continue. All right. The price, which society pays for the law of competition. Like the price it pays for cheap comforts and luxuries is also great, but the advantage of this law or the advantage of this law are also greater still for it is to this law that we owe our wonderful material development, which brings improved conditions in its train.
But whether the law be benign or not, we must say of it as we say, of the change in the conditions of men to which we have referred it is here, we cannot evade it, no substitutes for it have been found. And while the law may be sometimes hard for the individual, it is best for the race because it inside or it ensures the survival of the fittest. In every department we accept and welcome therefore as conditions to which we must accommodate ourselves. Great inequality of environment, the concentration of business, industrial and commercial in the hands of a few and the law of competition between these as being not only been official but essential for the future progress of the race. Hmm. Having accepted these, it follows that there must be great scope for the exercise of special ability in the merchants and in the manufacturer who has the conduct that has to conduct affairs upon a great scale that this talent for organization and management is rare among men is proved by the fact that it invariably secure as for its predecessor. Quick timeout tweaked up. I want to make sure I cue this up because homogeneity is a word that I want to hit hard times with homogeneity, but Lucille, I can time it, right? Cause this, this is what I wanted to do. I wanted to say, you know what they say homogeneity. All right, please repeat the last line. [inaudible]
okay. Having accepted these, it follows that there must be great scope for the exercise of special ability in the merchant and in the manufacturer who has to conduct affairs of honey. Great scale. Okay. Continue that. This talent for organization and management is rare. He says, but this what? That this talent for organization and management is rare. Yeah. Have you noticed how hard it is to manage people? Oh yeah. Think about elephant in the room for a minute. Is that, is that not truly the hardest aspect of running the elephant in the room? Men’s grooming lounge? Is that not the hardest part is managing people? Oh yeah. And I tell every new person is like, Hey, you know, you going to get sales, you’re going to get inventory, you’re gonna get customer service. Your main thing is you have 10 to 12 people that you have to manage on a daily basis.
Go managing people is the hardest thing there is to do. It’s a talent or skill that if you can manage people, you can do well. But if you can’t manage people and man systems, you gotta be the kind of that kind of person and it’s a rare skill and those that configure it out, those that are curious, those that apply what they’re learning on this show. And you can build systems and recruit the people to do the systems. Those people do well, those people that can’t figure out how to build systems and how to keep people accountable for running those systems and implementing those systems, those people don’t do well. But the people out there who are just very good at doing a thing oftentimes get promoted to incompetence because just because you’re good at making shoes doesn’t mean you’re going to be good at running the shoe factory. Right? So that’s, that’s a, that’s a thing. You got to learn how to manage people as like the toughest skill for people to learn. I see it all all the time. Great salespeople usually struggle to manage salespeople. Great architects usually struggle to manage architects. Managing people is a tough task. Jason, back to you in the booth that I am also in, you guys were reading the gospel of wealth by Andrew Carnegie.
The experience and affairs always rate the man who services can be obtained as a partner as not only the first consideration, but such as to render the question of his capital scarcely worth considering for such men soon create capital while without the special talent required capital soon takes wings. Such men become interested in firms or corporations using millions and estimating only simple interests to be made upon the capital invested. It is inevitable that their income must exceed their expenditures and that they must accumulate wealth. Nor is there any middle ground which such men can occupy. Because the great manufacturing or commercial concern, which does, which does not earn at least interest upon its capital soon becomes bankrupt. Wait a minute. So what he’s saying is that if capital, if investors invest in a company for the purpose of scaling it, then as a byproduct of trying to reproduce a return for the investors, the managers or our leadership has to become rich, right?
Because otherwise why would they do it? So they have to, again, there’s, there’s these three, it’s a three legged stool here you have capital, that’s the investors, that’s money being put into a business. You have labor, the people doing the jobs, and then you have the the consumer over here and you’ve got to try to satisfy all three. But the problem is if you lower the price too low, the customers super happy, right? But then labor, it gets upset because they’re not making any money and the investors are mad. If you raise the prices too high, then the consumer is mad, but the investors are temporarily happy. Yeah. So the key is how do you balance all three? There has to be constant conflict, which is why, which is why a lot of people can’t handle entrepreneurship cause it causes when you, when you have to deliver the price, you have to keep your prices at a certain price point or below.
You’re going to irritate labor who always thinks they need to get paid more. But if you ask the average customer, if you ask the customer, Hey, should this computer be cheaper? They’ll go, yeah, but if you ask the employee should you get paid more? They go, yep. And the manager who manages both of these people also has to be accountable to the investors and therefore they are going to make a lot of money as a byproduct of balancing those three. But it is constant conflict. If you want to be at the top, if you want to be the boss, you have to make big obstacles seem small. And trying to satisfy those three groups all the time. That is a tough, a tough road to go. Jason continued, you just gave me a really quick idea. Instead of constant contact, we should offer due service called constant conflict where people subscribe and we just come into their business monthly and shake it up. [inaudible]
couldn’t continue. It must either go forward or fall behind to stand. Still is impossible. Ooh, I like that. It is a condition essential for its successful operation that it should be thus far profitable. And even that in addition to interest on capital, it should make profit. It is a law as certain as any of the others named that men possessed of this peculiar talent for a fair under the free play of economic forces must of necessity soon be in receipt of more revenue than can be a judicially expended upon themselves. And this law is as beneficial for the race as the others. Okay. Objections to the foundations upon which society is based, are not in order because the condition of the races better with these than it has been with any others which have been tried. So he’s saying that we’ve already tried socialism and we know it doesn’t work. We’ve already tried communism and we know it doesn’t work. We also know that capitalism isn’t perfect, but it’s the best we’ve got. We’ve already tried the other isms. We’ve already tried socialism, communism. We’ve already tried these things and now we’re doing capitalism and we know that capitalism is the best. Think about this, the standard and the quality of life in Israel. Is it higher than that?
Oh, Venezuela. Is the quality of life in America better than that of North Korea? Is the, is the standard of living in South Korea better than that of North Korea? Yes. Why? Because capitalism is the best we’ve got. Capitalism is awesome. Socialism. Terrible. Um, just so we’re getting this idea, I want sure people understand this. Let me tell you how much I can’t stand socialists because they make everything bad for everybody. I, I am, um, I’m a Christian, right? So I’m, I’m a Judeo Christian. That’s what I am. And, um, I lot of Christians I know get really worked up. If people are not a Christian, they go, Oh gosh, you know, uh, you know, you’re not a Christian and therefore I’m worried about your soul. And I, and I, and I do believe in heaven and hell and I am a Christian. So I, I do sincerely have that thought, but I am more concerned if you’re a socialist than I am, whether you’re a Christian or not.
Because if you’re a socialist, you’re making life bad for everybody. And so because I’m a Christian, I had that thought before doing today’s show and I thought to myself, is that, is that a good thought? I mean, does that even the line up with my faith? Should I be, should I, is it, is it okay? Is it as a Christian? Should I, is it cool for me to be more irritated with socialists than I am with pagans who eat goat heads? Um, you know, I don’t know any pagan city you go head. Do you know what I mean though? I mean, should I be more concerned about socialists than, than pagans? As a, as a Christian, where, where, where does that fall? Well, I have a notable quote that I’m gonna read to you from first Timothy five eight from the book called the Bible.
Jason, this verse, it will blow your mind. I’m ready. As a, as a non Christian man who are, would you describe yourself as agnostic? Atheist? How would you describe yourself? Straight up. Pagan, straight up pays kid. I’m a parent. I’ve been told by others. I tutored the line between agnostic and atheist because whereas I don’t have one profound belief. I do see the value in what people enjoy as far as the religion goes. Yeah, no, you were in that dead a goat head today. The in in the studios, how I know you’re a pagan. I mean there’s little chilies. I had another cotton representative. This is what it says. First Timothy five eight it reads. Anyone who does not provide for their relatives and especially for their own household has denied the faith and is worse than an unbeliever.
Oh wow. I’m right. I get a mega point. I should be more concerned with lazy socialists, communists then I should be. I should be working here with these people that I should be with unbelievers. Oh yes, yes. I get all the mega points. Yes, yes and yes.
Yes. I feel that yes. First Timothy five, eight, anyone who does not provide for the relatives and especially for their own household has denied the faith, is worse than on a believer. Think about that thing
about that. Think about that. Anyone who does not provide for their relatives and especially for their own household has denied the faith and is worse than an unbeliever. That’s a great quote. I think that’s why I hate social assault. I think that’s what it is. Yeah. I didn’t realize how much capitalism is baked into, um, the Judeo Christian worldview, but that’s why I like it. It’s, it’s crazy. But even though I have a different faith than Jewish people, we, we, we agree on the first book and then Christians, we agree on there. We Christians, we agree there’s two books, old Testament, new Testament, new Testament Jewish people believe in the one book, the old Testament. And then Mormons have their new book, part three. So you got the old Testament, new Testament and then they believe they believe in the third book, but that’s why I agree with people that share my worldview so much is because our religious views tie into capitalism.
That’s what formed this country, that worldview that if you don’t work, you shouldn’t eat. Have you ever heard that verse Jason? If you don’t work, you shouldn’t eat. I’ve heard will work for food. You haven’t heard that idea though? [inaudible] really? I like that idea. Okay, let me see here. If you don’t work, you shouldn’t eat Bible verse. Let me find the verse here for you. I’m looking it up right now. A lot of pressure. I don’t fill out a pressure. Public typing, public podcast, fill out a pressure right here. Let me read to you. This is from a a, it says a second testimonial is three 10 we also gave you their rule that if you don’t work, you don’t eat straight up. There it is. If you don’t work, you don’t eat, but apparently Cortez says if you don’t work, you should. If you don’t work, you get a house, you get a house, you don’t work in a house. Now, get out there and get motivated or Bobby. All right, continue. Continue. Jason. Jason, I want you to know this. If you, if you and I were to go back in time to the year of like, you know, 1870 you’d be one heck of a Bob and boy. Yes. All right. Again, I just, I mean we went back to like 1870 you would, you would be just the best. Bob and boy, I, they don’t come at Bob and Beasley for nothing.
okay. Good. Do you have the effect of any new substitutes proposed? We cannot be sure. The, Oh, here. Here comes the socialist or anarchist who seeks to overturn present conditions is to be regarded as attacking the foundation upon which civilization itself rests. Read that again. Oh, the socialist or anarchist who seeks to overturn present conditions is to be regarded as attacking the foundation upon which civilization itself rests. Read it again, but read it with more passion and kind of go slow. Let’s do it. Let’s do slow and with passion as I cue up, um, this, this song that, that, that a, a socialist are so passionate about. Let me, let me queue it up
real quick. Let me, can I get the, let me get it going here. Let me, let me hit the button here. Let me hit that.
Okay. The socialist or, Oh, [inaudible] the socialist or anarchist will six to overturn present conditions is to be regarded as a tucking the foundation upon which civilization itself crests.
It’s pretty good, man. That’s impressive. I try this all the time. And when did you, when did you nail the Russian voice? Uh, when I got obsessed with, um, what’s his name? Uh, is it Ivan Drago? Yeah, really that’s impressive. That man, you know, uh, Ivan Drago, um, we couldn’t get him on the show today. Um, you know, we, we couldn’t get dolphin longer and on the show today, he was out shooting Expendables 74 with a Sylvester Stallone, SLAs known of, but he did call in and uh, or we, we believe he called and we don’t, we don’t know. We just see the sound file. And we’re going, I think this is a voicemail from Ivan drug. Let me cue it up real quick and see what he had to say here. Oh, Hey, wait, we’ll be queued up again. Let me see what he said.
Okay, continue. I got so caught up my a drag. Okay for civilization. Took it start from the day. Actually, I’ll, I’ll, I’ll run it back from the top. So I did run it back from the top. Complete sentence. The socialist or anarchist who seeks to overturn present conditions is to be regarded as attacking the foundation upon which civilization itself, wrists for civilization took it start from the day that the capable industrious work a Workman said to his incompetent and lazy fellow, if thou does not, so thou shalt not reap. There it is. That’s the idea. Now, Andrew Carnegie was not a Christian, but he shared the capitalistic worldview. If what? Again, read that last, that last little [inaudible] last little portion, industrious Workman said to his incompetent and lazy fellow, if thou does not, so thou shalt not reap. Okay, continue. And thus indeed primitive communism by separating the drones from the bees.
One who studies is one who studies this subject will soon be brought face to face with the conclusion that upon the sacredness of property of, of property civilization itself depends the right of the laborer to his hundred dollars in this savings bank in equally the legal rights of the millionaire to his millions to these who to these who propose to substitute communism for this intense individualism. The answer therefore is the race has tried that all progress, that the barbarous day to the present time has resulted from its displacement, not evil, but good has come to the ER, has come to the race from the accumulation of wealth by those who have the ability and energy that produce it. Can you, can you go back to that line? He said, we’re socialists are doing what? They’re attacking. Humor. That line he says, socialists are attacking. Yes. The socialist or anarchist who seeks to overturn present conditions is to be regarded as the foundation
upon which civilization itself rests. Socialists are to be regarded as attacking what the foundation upon which civilization itself rests foundation upon which civilization itself rests. Civilization itself rests. Wow. Wow. Uh, that right there is a powerful idea. Um, I, I 100% agree with that idea. Um, I believe that there’s biblical justification for the Christians out there. First Timothy five eight, anyone who does not provide for the relatives and especially for their own household has denied the faith and is worse than an unbeliever. Carnegie saying socialists are to be regarded as attacking the foundation upon which civilization itself. Rest. That’s uh, that’s, that’s, that’s strong right there. Andrew Carnegie. Continue Jason. But even if we admit for a moment that it might be better for the race to discard it’s present foundation individualism that is a nobler ideal that men or that man should labor, not for himself alone, but in and for a brotherhood of his fellows and share with them all in common.
Realizing Swedenborg is idea of heaven, where as he says, the angels derive their happiness, not from laboring for self, but for each other. Even admit all this. And a sufficient answer is this is not evolution, but revolution it or its necessities or it necessitates the changing of human nature itself. A work of Ian’s, even if we’re good to change it, which we cannot know. Mm Hmm. Now, okay. Um, now this is a, another biblical idea. He’s, he’s saying right now, he’s saying that you want to work as a, as though it’s almost like your worship. You know, you want to work, um, not just selfishly, but you want to work for others, for others. So you’re going to benefit in the process. Um, and so there’s, there is a Bible verse I’ll read to you from a collagen’s three 2124. It reads whatever you do, work at it with all of your heart as working for the Lord, not for human masters.
Wow. It says, whatever you do, work at it with all your heart as working for the Lord, not for human masters. Since you know that you will receive an inheritance from the Lord as a reward. It is the Lord Christ you are serving. Hmm. So as a Christian, if you’re out there today, you should work as unto the Lord. That should be how the world should judge you based upon your work ethic. I would believe, according to the Bible verses I’ve read, I don’t think you can be a Christian and have a bad work ethic. Oh yeah. I don’t believe you can. If you’re out there, if you’re a Christian today and you’re lazy, I think you’re not a Christian. That’s my take. I don’t think you can be. You know why? Because it says whatever you do, work at it with all of your heart.
If you read the Hebrew, if you read the Hebrew, remember? Remember the old Testament is written in Hebrew, and if you look it up, the word work means worship. That’s what it says in the Bible. So if you’re a Christian out there, you’re a Bible. You know you’re beating that Bible. You’re talking about, Hey, I’m a Christian. You gotta have a great work ethic, right? Because it’s, it’s part of the game. God gave Adam the garden and Genesis look it up so that he could work it so that he could work at God, gave Adam the gardens so that he could work it. It says in Genesis and Exodus, you’re supposed to work six days and rest on the seventh of the Sabbath. Observed that day the observant is Holy. But when you have a job and you’re a Christian out there and you don’t like your job or you don’t like your boss, it doesn’t matter.
You’re supposed to work. He says, whatever you do again. Collagen’s three 23 look it up. Look, look at it, read it, says whatever you do, work at it with all your heart as working for the Lord, not for human masters. So whether you like your boss or not, work as unto the Lord. That’s how you do it. That’s how, that’s the Christian perspective. Now, do we all make mistakes? Yeah. And we all have occasional bad days. Sure. But if your natural default setting is being a slacker, I don’t, I don’t think that is a good, uh, I don’t think you can do that. And be a Christian simultaneously. A continue, Jason. It is not practicable in our day or in our age even if desirable, theoretically. Okay. Theoretically, even if desirable, theoretically it belongs to another and long succeeding socio sociological stratum. Our data is with what is practicable now, what the next step possible in our day in generation, it is criminal to waste our energies in endeavoring to uproot when all we can profit, when all we can profitably or possibly accomplish is to bend the universal tree of humanity a little in the direction most favorable to the production of good fruit under existing circumstances.
We might as well urge the destruction of the highest existing type of man because he failed to reach our ideal as favor. The destruction of individualism, private property, the law of accumulation of wealth and the law of competition for these are the highest results of human experience. The soil in which society so far has produced the best fruit unequally or unjustly. Perhaps as these laws sometimes operate in imperfect as they appear to the idealist, they are nevertheless like the highest type of man. The best and most valuable of all that humanity has yet accomplished. Read that last line one more time, please. Unequally or unjustly, perhaps as these laws sometimes operate and imperfect as they appear to the M and M what? And imperfect. Okay. As they appear to the idealist, keep going. They are nevertheless like the highest type of man. The best and most valuable of all the human are. All that humanity has yet accomplished. So what Carnegie is pointing out is that even though they are, they are imperfect according to the idealist. It’s the best we have, right? So as an example, let’s, let’s take socialism
and put it into basketball for a second. And let’s say that LeBron James is, is always good. Or let’s, let’s pick your favorite player. Let’s say it’s Koby Bryant or James harden or whoever your favorite player is. Imagine they’re very, very good. And so the ref says, you know, you know, you know, time, time out here, boys, time out, time out here boys, let me get my time out button. So the rep, the rep gets up out there on the court and he says, Hey, Val, number 23 you’re too big, too fast and you’re making more money than anybody else. You’re making a lot more money. Timeout, LeBron, you’re making more money than everybody else. In fact, you’re making more money this year than those six other guys sitting on the bench over there. So what I’m gonna do is hints. Fourth, you’re going to get paid the exact same. Everybody’s getting paid the same amount and LeBron has to wear ankle weights so that it’s fair. Now, if you get a chance to, um, uh, do that, what’ll happen is the guys at the bench are going to go,
thank you Jesus. They’re
going to love the idea. They’re making as much money as LeBron. They’re going to love that idea, right? They’re going to love, they’re making as much money as LeBron. Oh yes they are. They’re going to love that. They’re getting that LeBron wears ankle weights and they can win. It’s like a bunch of white guys playing basketball and they’ll lower the hoop to like eight feet tall. Woody Harrelson never lowered the hoop. So for one moment they can dunk, right? There’s like a, it’s like a thing you’ll watch, you watch a bunch of white guys, the lower the hoop to eight or nine feet and they’re like, for one moment in their life that are actually up there, Dunkin like, Aw. I said, SAC woo, I’m on fire. Um, it’s, it’s like, uh, lowering the grading curve where a B is an a, did you ever go to a school where they had a grading curve like that where they lowered the standards to put everybody’s score higher?
Business coach Jason, did you ever experience that? Yep. My sophomore year in algebra two, there was a test that was, I would assume standard. I hated math. I was like a C average in math just because it didn’t want to do the homework. Sure. Show up for the test. Yeah. But even then I scored higher than I should have because they’re like, well, we actually read the rubric and we did a curve that way. The greatest based off of who got the highest. So you had a kid in there who scored like I want to say he got like a one Oh four cause he answered the extra credit which then gave everybody this huge weighted curve and so my C went to like a B minus which made me look like the man in algebra two but I didn’t earn that. It was all based off of the work somebody else did.
There it is Jason continue. We start then with a condition of affairs under which the best interests of the race are promoted but which inevitably gives wealth to the few thus far accepting conditions as they exist, the situation can be surveyed and pronounced. Good. The question then arises and if the foregoing be correct, it is the only question with which we have to deal. What is the proper mode of administering wealth after the law or after the laws upon which civilization is founded have thrown it into the hands of the few and it is of this great question that I believe I offer the true solution. It will be understood that fortunes are here spoken of not moderate, some saved by many years of effort. The returns on which are required for the comfortable maintenance and education of families. This is not wealth, but only competence, which is or which it should be.
The aim of all to acquire. Got it. Continue. There are but three modes in which surplus wealth can be disposed of. It can be left to the families of the descendants or it can be bequeathed for public purpose or finally, it can be administered during their lives by its processors under the first and second Mo or under the first and second modes. Most of the wealth of the world that we are that has reached the few has hitherto been applied that Quis. Think about that word for a second. The queen, the queen. That means to leave to a person or other beneficiaries who’s say, there’s three modes, right? There’s weight. You can give it away to your family after you die. Yep. You could give it to public purpose, public purpose, like a park or give it to the public or you could administer it during your lifetime so that you could see the benefit of it and instead of it basically he’s advocating, instead of doing handouts, you could do hand ups.
Yes. Therefore, you can help people kind of like if you put in a dollar, I’ll match it as opposed to here’s $2. He’s saying if you raise the dollar, I’ll match it. The, the, the Boone Pickens method, that, that’s, that’s what he’s talking about. Continue. Jason, let us in turn consider. Oh Hey, real quick. I appreciate you. I’m reading this book. I’m giving this book to us there. Jason, I appreciate you giving us the audio version of this book. Um, in fact, you are doing a great job of the Quis in this book to us. Bequeathing okay, continue. I’m slowly trying to get better with my queen. Okay. Continue. Let us in turn. Consider each of these modes. The first is the most [inaudible] he just did he just say, let us interns. [inaudible]
what does he mean by that? And I continued. Please let us intern. Oh, sorry. Each of these methods, the first is the most injudicious in monarchial countries. The estate and the greatest portion of the wealth are left to the first son that the vanity of the parent may be gratified by the thought that his name and title are to descend to succeeding generations unimpaired. The condition of this class in Europe today teaches the futility of EA have such hopes of ambitions. The successors have become impoverished through their Follies or from the fall in the value of land. Even in great Britain, the strict law of entail has been found inadequate to maintain the status of a, basically when you give your kids a bunch of stuff, it ruins their life. Sure. What’s that called? Ah, well you’re like a trust fund baby. It’s where you give somebody something and they become entitled.
They become, they’re just born a fluent and they end up being just lazy and when you give your kids a bunch of stuff, you ruin their life and that’s what he’s talking about. So continue Jason. Its soil is rapidly passing into the hands of the stranger. Under Republican institutions. The division of property among the children is much fairer, but the question which forces itself upon thoughtful men in all lands is why should men leave great fortunes to their children? If this is done from affection, is it not misguided affection? Observation teaches that generally speaking, it is not well for the children that they should be so burdened.
Would you give your kids stuff? Did you ruin their lives? He just said it word for word. I’m just telling ya and this is what happens. Don’t give your kids a bunch of business coach stuff. If you give them stuff, you will ruin their life. You will. You will ruin their life. Now, can you give your kids opportunities? Yes, but it’s very important. As parents, I have kids. It’s very important as parents that we don’t create entitled people because if you create entitled people, they want everything for free. They feel like they deserve everything. Jason, have you ever been around somebody in a high school or college that was entitled in somebody who just had, they were just given a bunch of stuff. So now they think they’re awesome. Yes. And what was that? What was that like? Well, it’s the same thing over and over the second they don’t get what they want.
They’ve never experienced that no before. So they flip out and then you can’t have a rational conversation with them being somebody who has either worked for something or been given an opportunity in order to achieve whatever you wanted because it’s like you’re, you’re speaking the King’s English and they’re speaking Cantonese. Hmm. Okay. Continue. Jason. Neither is it well for the state beyond providing for the wife and daughters moderate sources of income and very moderate allowances. Indeed. If any for the sons, men may well hesitate for it is no longer questionable that great sums bequeathed over work more for the injury than for the good of the recipients. Wiseman will soon conclude that for the best interest of the members of their families and of the estate, such bequests are in improper use of their means. Okay. It is not suggested that men who have failed to educate their sons to earn a livelihood shall cast them a drift in poverty.
If any man has seen fit to rear his son’s with a view to their living ideal or sorry, in view to their living ideal lives, or what is highly commendable has instilled in them the sentiment that they are in a position to labor for public ends without reference to pecuniary conditions. Then of course, the duty of the parent is to see that such are provided for in moderation. So he’s talking about as you don’t want to create entitled kids, I’ll let me give you a Bible verse out there and folks at home. Proverbs 1324 Proverbs 1324 this right here is an incredible verse and I think dr Breck told me that he was gonna be out of town today. I think I’m having that thought right now. So this is what it says here. Proverbs 1324 he
that spareth his rod Hadith, his son, but he that loveth him, Chastin with him. Oh, so saying that if you don’t spank your kids, discipline your kids. If you don’t discipline your kids, you hate your kids. If you don’t, it’s so he’s taught Andrew talking about you want to just give somebody a bunch of money that they didn’t earn because again, going back to the old Testament, back to the old Testament, the word money means a certificate of appreciation. So you can’t give people applause. They didn’t earn. That’s like having a bad musician get on stage and do a horrible performance. And you tell the crowd, go ahead and show this person appreciation.
Cheer for them. Yeah, give them a round of applause because this guy is great. Woo.
People are going, no, no, they’re not good.
And you’re like, no, no, no, no, no, no. Hey listen, he might not be good, but he’s the best.
We’re going, no, no, we don’t. We don’t like them. So when you get, when you put somebody in charge and you know someone, you have a son, when you have a daughter and you put them in charge of your small business simply because the related to you, but they haven’t earned it, everybody around them knows it. Yes. And everybody can figure it out real quick. The only reason this guy’s in charge is because his daddy gave him the job and nobody respects you. People hate nepotism. You have to earn it. Continue, Jason. There are instances of millionaire’s sons unspoiled by wealth, who being rich still perform great services in the community. Such are the very salt of the earth, as valuable as unfortunately they are rare. Still. It is not that exception, but the rule that men must regard and looking at the usual results of enormous sums, uh, conferred upon legatees.
Legatees legatees. How did he tell you, Hey, how are you spelling? They’ll EG, G a T E L L E. G. a. T. E. S. T. E. S. and uh, okay. We got here, it says, a member of a clergy, especially a Cardinal, a general or governor of an ancient Roman province or their deputy Leggett, um, Legates. There it is. So you know, a lot of times who he is, get out of here. You know, a lot of times, you know, Oh, a lot of times they say Leggett again. A lot of times you’re out there in a local bar or eatery and they say, well, they get all right. Continue. That thoughtful man must shortly say, I would as soon leave to my son a curse as the almighty dollar. And it’s harsh and admit Tim’s what a, so says the thoughtful man must shortly say, I would as soon leave to my son a curse as the almighty dollar. The the thoughtful man. What? You know what they say? Seriously though, let’s read it again. The thoughtful man must shortly say, most shortly say. Got it. And then in quotes, I would as soon leave my son soon
or soon leave to my son [inaudible] a curse occurs as the almighty dollar as the almighty dollar.
Oh that is God. That is a really good, that is,
it’s a lot of pressure. You got to rise above it. You got a harness in the good energy block out the bad harness energy block bad. Feel the flow happy, feel it. It’s circular. It’s like a carousel. You pay the quarter, you get on the horse. It goes up and down and the round circular circle with the music, the flow. I’m in a flow now things well
I want, I want to make sure that I’m getting this. He was, and tell me if I’m, I’m re, if I’m reading this wrong, he says the thoughtful man must shortly say, I would as soon leave to my son a curse as the almighty dollar [inaudible] that is hot. Continue Jason and to admit to himself that it is not the welfare of the children, but the family pride which inspires these enormous legacies as to the second mode, we’re getting into mode two now vote to that of leaving wealth at death for public uses. It may be said that this is only a means for the disposal of wealth provided a man is content to wait until he is dead before it becomes of much good in the world. Knowledge of the results of legacy’s bequeath is not calculated to inspire the brightest hopes of much posthumous good being accomplished.
The cases are not few in which the real object sought by the test data is not attained nor are or nor are they few in which his real wishes are thwarted. In many cases, the bequests are so used as to become only monuments of his folly. It is well to remember that it requires the exercise of not less of not less ability then that which acquired the wealth to use it so as to be really beneficial to the community. Besides this, it may fairly be said that no man is to be exalted for doing what they are, what he cannot help doing, nor is he to be thanked by the community to which he only leaves wealth at death. Men who leave vast sums in this are men who live vast sums in this way, may fairly be thought men who would not have left it at all, have they been able to take it with them?
The memories of such cannot be held in grateful remembrance for there is no grace in their gifts. It is not to be wondered at or is not to be wondered at that. Such bequests seem so generally to lack the blessing. So he’s talking about if you have wealth, you should give it away while you’re still alive. Right. That’s what, that’s what he’s talking about. Okay. Continue. The growing disposition to tax more and more heavily large estates left at death is a cheering indication of the growth of a saluatory change in public opinion. The state of Pennsylvania now takes subject to some exceptions. One 10th of the property left by its citizens. The budget presented in the British parliament the other day proposed to increase the death duties and most significant of all the new tax is to be graduated or is to be a graduated one of all forms of taxation.
This seems the wisest men who continue hoarding great sums all their lives. The proper use of which for public ends would work good to the community. It should be made to feel that the community in the form of the state cannot thus be deprived of its proper share by taxing estates heavily at death, the state marks its condemnation of the selfish millionaires, unworthy life. So he is advocating for taxing you after you’re dead. He is saying if you have not given back to the community, if you haven’t deployed that capital to help those around you, Carnegie is in favor of a death tax because he’s saying you’re so selfish that you’re going to build up a huge amount of money and die with it in the bank. He thinks that the government should take it, which is very interesting for a guy who is pro capitalism, right?
To believe in a large death tax. Now, the folks at home want to know how many more pages of Gloria do we have here? How many pages are you? Oh, let’s see. We are about one fourth of the way through this associate. One, two, three, four, five, three, five more pages. I’d say five in total, five in total can continue reading my friend. It is desirable that nations should go much further in this direction. Indeed, it is difficult to set bounds to the share for or of a rich man’s estate, which should go at his death to the public, through the agency of the state. And by all means, such taxes should be graduated beginning at nothing or beginning at nothing upon moderate sums to dependence and increasing rapidly as the amount swell. So he’s saying that it should be a graduated tax, that if you die with a little money, you should be taxed a little or nothing.
And if you have a little, you know, a moderate amount, you should be taxed a moderate amount. If you have a huge amount of money when you die, you should be having your or your a state should be hit with a huge tax. That’s what Andrew Carnegie is saying, continued Jay’s right a C and increasingly rapidly as the amount swell until of the millionaires hordes as of shylocks, at least the other half comes to the privacy coffer of the state. Hmm. This policy would work powerfully to introduce the rich man to attend the administration of wealth during his life, which was the end that society should always have in view as being that by far being that by far most fruitful for the people nor need to be feared that this policy would SAP the roots of enterprise and RenderMan less anxious to accumulate four to the class who’s a bitch or ambition.
It is to leave great fortunes and be talked about after their death. It will attract even more attention and indeed be a somewhat nobler ambition to have enormous sums paid over the state from their fortunes. Got it. There their remains then only one mode of using great fortunes, but in this we have the true antidote for the temporary unequal distribution of wealth, the reconciliation of the rich and the poor arraign of harmony. Another ideal differing indeed from that of the communist in requiring only the further, um, evolution of existing conditions, not the total overthrow of our civilization. So he’s saying the communist wants to fix the economic disparity
between rich and poor by making universal poverty a thing by taxing everybody, right? He’s advocating for a way to bridge the gap between the rich and the poor by giving your money away while you’re still alive. That’s what he’s talking about Andrew Carnegie, the gospel of, well it’s, he’s kinda tricky cause as a capitalist, I don’t think people thought he was going to go there. Oh yeah. But that’s where he’s going. He is going to continue taking us to Carnegie town. Jason, back to you in the booth. The same booth and I’m in,
it is founded upon the present and most intense individualism and the race is projected to put it in practice by a degree. Whenever it pleases under its sway, we shall have an ideal state in which the surplus wealth of the few will become in the best sense, the property of the many because administered for the common good and this wealth passing through the hands of the few can be made and much more potent force for the elevation of our race than if it had been distributed in small sums to the people themselves. Yes, yes,
yes, yes and yes. Even the poorest can be made to see this and to agree that great sums gathered by some of their fellow citizens and spent for public purposes from which the masses reap the, the principal benefit are more valuable to them than if scattered among them through the course of many years and trifling amounts through the course of many years. Like I just said that twice. Okay. If we consider what results flow from the Cooper Institute, for instance, to the best portion of the race in New York, not possessed of means, and compare these with those which have arisen for the good of the masses from an equal sum distributed by Mr. Cooper in his lifetime. And the form of wages, which is the highest form of distribution being for work done and not for charity. We can form some estimate of the possibilities for the improvement of the race, which lie embedded in the present law of the accumulation of wealth.
Much of this sum, if distributed in small quantities among the people would have been wasted in the indulgence of appetite, some of it in excess and it may be doubted whether even part put to the best use part. Well, whether even the part put to the best use that of adding to the comforts of the home would have yielded results for the race as a race at all comparable to those which are flowing and are to flow from the Cooper Institute, from generation to generation. Let the advocate of violent or radical change ponder. Well, this thought we might even go so far as to take another instance that of mr Tilton’s bequest of $5 million for a free library in the city of New York. Put in referring to this one cannot help saying info in voluntarily. How much better if mr Tilton had devoted the last years of his life to the proper administration of the admit sums, in which case, neither legal contest nor any other of delay would have interfered with his aims.
But let us assume that mr Tilden’s millions finally become the means of giving to us this city, a noble public library where the treasures of the world contained in the end books will open. We’ll be open to all forever without money and without price. Considering the good of that part of the race which congregates in, in and around Manhattan Island, would its permanent benefit have been better promoted and have these millions had been allowed to circulate in small sums throughout the hands of the masses. Even the most strenuous advocate of communism must entertain a doubt upon this subject. Most of those who think we’ll probably entertain, no doubt, whatever for uh, this is no doubt, whatever. Okay. Poor and restricted are our opportunities in this life narrow our horizon, our best work, most imperfect, but rich men should be thankful for the one. And it’s an estimable boon they have in their power during their lives to busy themselves and organizing benefactions from which the masses of their fellows will derive lasting advantage and thus dignify their own lives.
The highest life is probably to be reached not by such invitation of the life of Christ as count Tulsa Tolstoy, okay gives us, but well animated by Christ’s spirit by recognizing the changed conditions of his age and adopting modes of expressing this spirit to the changed conditions under which we will still be laboring. We still, we live still laboring. He does use a lot of comments, right? All right. Continue my friend for the good of our fellows, which has the essence of his life and teaching, but laboring in a different manner. I feel like all of this should be read by Cornell West. He can do such a good job. Good job. Cornell West will get Cornell West on the show. Continue. That’d be awesome. This then is held to be the duty of man of wealth. First to set an example of modest unostentatious living shunning display of extravagance to provide moderately for the legitimate.
Once of those dependent upon him and after doing so to consider all surplus revenues which come to him simply and trust or as trust funds, which he has called upon to administer and strictly bound as a matter of duty to administer in the manner which in his judgment is best calculated to produce or to produce the most beneficial results for the community. So he’s, he’s advocating that if you have a lot of money, you shouldn’t just buy everything possible and live this baller lifestyle. Dang it, but you should be frugal is what he’s saying. That’s that. That’s his take. Continue. Okay. The man of wealth thus becoming the mere agent and trustee for his poor brethren bringing to their service his superior wisdom, experience and ability to administer doing for them better than they would or could do for themselves.
We are met here with the difficulty of determining what are moderate sums or what are moderate sums to leave to members of the family. What does modest unostentatious living love using that word, what does the test of extravagance? There must be different standards for different conditions. The answer is that it is as impossible to name exact amounts or actions as it is to define good manners, good tastes, or the rules of propriety. But nevertheless, these are variety or these are Verity is well known all through all through and uh, all three indefinable. Wow. Hmm. Public sentiment is quick to know and to feel what, uh, fins these. So in the case of wealth, the rule in regard to good taste in the dress of or in the dress of men or women applies here. Whatever makes one conspicuous offends the Canon. Whatever makes one conspicuous offense.
The cannon, if any family be chiefly known for display, for extravagance in home table, uh, equipage for enormous sums of ostentatiously spent in any form upon itself. If these be its chief distinctions, we have no difficulty in estimating its nature or culture. So likewise in regarding to the use or abuse of its surplus wealth or too generous free handed cooperation in good public uses or too or or too unabated efforts to accumulate and horde to the last whether they administer or bequeath the verdict rests with the best and most enlightened public sentiment. The community will surely judge and its judgements will not often be wrong. The best use as to which surplus wealth can be put, have or can be put have already been indicated. These who would administer wisely must indeed be wise for one of the serious obstacles to the improvement of our race is indiscriminant charity.
It were better for mankind that the millions of the rich were thrown into the sea then so spent as to encourage the slothful, the drunken, the unworthy of every thousand dollars spent in so-called charity to do it is, Oh sorry. Today, it is probably the $950 in unwisely spent so spent indeed as to produce the very evils which you propose to mitigate or cure a well known writer of Phyllis or a philosophical books admitted the other day that he had given a quarter of a dollar to a man who approached him as he was coming to visit the house of his friend. Hmm. He knew nothing of the habits of this beggar, um, new, not the use or not the use that he would make or he would make of his money. Although he had every reason to suspect that it would be spent in or in properly.
This man professed to be a disciple of Herbert Spencer. Yet the quarter dollar given that night will probably work more injury than all the money, which is or which is thoughtless donor will ever be able to give in true charity will be or will do. Good. So he’s saying that he, when you give somebody money, when they don’t have to do anything for that money, it’s bad for them. He’s saying, you just give somebody and back in the day a quarter, it’s, it’s not good for them. That’s, that’s what he’s trying to communicate here and now any further I do back to you, he only gratified his own feelings saved himself from annoyance. And this was probably one of the most selfish and very worst actions of his life. For in all respect, he is most worthy in bestowing charity. The main consideration should be to help those who will help themselves.
It is to provide part of the means by which those who desire to improve may do. So I want to make sure we’re getting this. Go back there and just go back to lines where he was talking. He says IX. Just read the law. Go back two lines or three lines and read that part again. In bestowing charity. Yes. Okay. In bestowing charity, the main consideration should be to help those who will help themselves. That’s what you should be doing with charity. Helping people that are willing to help themselves, but just giving money away to people that are lazy is bad for their soul. It kills their pride. Continue. Jason to provide part of the means by which those who desire to improve may do. So to give those who desire to use the aides by which they may rise to assist but rarely or never to do all.
Neither the individual nor the race is improved by almsgiving. That’s a new word. Almsgiving yeah, that’s Justin’s new holiday. Those worthy of assistance X, um, except in race classes seldom required assistance. They really value are the really valuable men of the race. Never do except in cases of accidents or sudden change. Everyone has of course, cases of individuals brought to his own knowledge where temporary assistance can do genuine good and these he will not overlook. But the amount which can be wisely given by the individual for individuals is necessarily limited by his lack of knowledge of the circumstances connected with each. He is the only true reformer who is as careful and as anxious not to aid the unworthy as he is to aid the worthy and perhaps even more so for in almsgiving. More injury is probably done by rewarding vise than by relieving virtue tear.
It is. He says you’re doing actually hurting people. When you give them free stuff, it’s actually bad for people’s soul to give them free stuff cause it injures their pride. Right. Continue. Jason, the rich man is thus almost restricted to following the examples of Peter Cooper, Enoch Pratt of Baltimore. Mr. Pratt of Brooklyn, Senator Stanford and others who know that the best means of benefiting the community is to place within its reach. The ladders upon which the aspiring can rise. Parks and means of recreation by which men are helped in body and mind, works of art, certain to give pleasure and improve the public taste and public institutions of various kinds which will improve the general condition of the people in this manner. Returning their surplus wealth to the mass of their fellow or of their fellows in the forms. Best calculated to do that or to do them lasting good thus is the problem of rich and poor to salt.
The laws of accumulation will be left free. The laws of distribution free individualism will continue, but the millionaire, it will be will butts or will be, but a trustee for the poor. Interested for a season with a great part of the increased wealth of the community, but administering it for the community far better than it could or would have done for itself. The best minds will thus have reached a stage in the development of the race, which is clearly seen that there is no mode of disposing of surplus wealth, credible, creditable to thoughtful and Ernest men in those hands. It flows save by using it year by year for the general good [inaudible] this day already dones but, but a little while. And although without incurring the pity of their fellows, men may die, shares in great businesses and great business enterprises from which their capital cannot be or has not been withdrawn and is left chiefly at death for public uses.
Yet the man who dies leaving behind many millions of available wealth, which are, which was his to administer during life will pass away and wept on honored and unsung. No matter or no matter to what uses he leaves. Uh, he leaves the dross, which he cannot take for himself of w of such as these, the public verdict will then be in quotes, the man who dies thus rich dies disgraced, such in my opinion, is the true gospel concerning wealth, obedience to which is destined someday to solve the problem of the rich and the poor and to bring peace on earth among men. Goodwill. So let’s, let’s just summarize what we’ve learned here. One, Andrew Carnegie started working at age 13, true Bob for 35 bucks a week as a Bob and boy, he worked his way up over time by he working over delivering the boss eventually promoted him and promoted him and promoted him.
He ended up, uh, becoming partnership with the boss, became the world’s wealthiest man. He then had accumulated a massive fortune and he really realized that the, uh, many people were, were upset by how much money he had versus how much money they have. He noticed throughout his lifetime there was a class war between the people at the bottom and the top people, the bottom one at what the people at the top had. And many people were advocating for socialism. And so he was pointing out that the world has gotten better as you and I go out there and try to make a dollar because as we’re competing in the world of commerce for dollars, we have to make a better product as we’re trying to beat the competition, we can make a better and better product. So he says, Hey, capitalism is producing um, goods at a lower price, at a higher quality and lower price than ever because of capitalism. It’s not perfect, but it’s the best we have. And he’s pointing out that if you are wealthy, it is incumbent upon you to not give your money freely to your kids. So they grew up to be entitled jerks. Your goal is to help people who
can’t help themselves. You want to meet people halfway, not give people handouts, but give people hand ups. And he’s saying that if you die with a large bank account, that is a bad thing. You should try to give it away during your lifetime to help people. Also, he is saying that if you just give money freely to lazy people, that’s not good cause it hurts their pride and it’s a really bad thing to do. So it’s bad to give money just to people who refuse to work. It’s bad. It’s also bad to try to take it with you when you die. So you should try to do as you earn wealth is to try to give it back, um, systemically over time in a way that provides people a hand up and not a hand out. True. Now, why has this book not to have been talked about much?
Well, the reason why this book isn’t talked about a lot today is one, this book was written many, many years ago, but also I think a lot of people are just trying to make a buck and they’re not stopping to ponder about how am I going to give it away? Right? That’s not a thought most people have. No, this is a rich man’s problem he’s trying to solve here, but I’d encourage everybody to, everybody to pick out, pick up a copy of the gospel of wealth. It’s a very short book and it was released in June of 1889 and it was a book written by the world’s second wealthiest man who again, started working full time, 12 hours a day to support his family for a dollar 20 per week, which comes up to $36 a week. In today’s, uh, with today’s value of money. And now have any further ado, we’d like to end each and every show with the boom. And so, Jason, are you prepared to bring the boom? Always. Here we go. Three, two, one. Boom.
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