Philosophers on Money & Abundance

On wealth and happiness:

"The life of money-making is one undertaken under compulsion, and wealth is evidently not the good we are seeking; for it is merely useful and for the sake of something else."

On liberality with wealth:

"With regard to giving and taking of wealth the mean is liberality, the excess and the defect prodigality and meanness. In these actions people exceed and fall short in contrary ways; the prodigal exceeds in spending and falls short in taking, while the mean man exceeds in taking and falls short in spending."

Aristotle viewed wealth as a means to living well, not an end in itself. He advocated for moderation, criticizing both excess and deficiency in relation to material goods.

On wealth and virtue:

"The accumulation of wealth is one of the causes of the existence of luxury; and luxury and idleness are the parents of disorder."

On wealth in the ideal state:

"In the first place, none of them should have any property of his own beyond what is absolutely necessary; neither should they have a private house or store closed against any one who has a mind to enter; their provisions should be only such as are required by trained warriors, who are men of temperance and courage; they should agree to receive from the citizens a fixed rate of pay, enough to meet the expenses of the year and no more; and they will go to mess and live together like soldiers in a camp."

In The Republic, Plato outlined an ideal state where the guardian class would hold property in common and live simply. He worried that excessive wealth or poverty would corrupt citizens and undermine social harmony.

On natural wealth:

"Natural wealth is both limited and easily procured; the wealth of vain desires requires limitless abundance."

On contentment:

"Nothing is enough for the man to whom enough is too little."

On self-sufficiency:

"The greatest fruit of self-sufficiency is freedom."

Epicurus advocated for simple living, arguing that natural wealth has limits while wealth desired from empty beliefs is unlimited. He taught that happiness comes not from accumulating possessions but from limiting desires.

On wealth and virtue:

"It is not the man who has too little, but the man who craves more, that is poor. What does it matter how much a man has laid up in his safe, or in his warehouse, how large are his flocks and how fat his dividends, if he covets his neighbour's property, and reckons, not his past gains, but his hopes of gains to come? Do you ask what is the proper limit to wealth? It is, first, to have what is necessary, and, second, to have what is enough."

On the proper attitude toward wealth:

"The wise man regards wealth as a slave, the fool as a master."

Despite being one of Rome's wealthiest men, Seneca advocated for detachment from material possessions. He argued that wealth should be used properly but not clung to, as it is indifferent to virtue.

On wealth and character:

"How much time he gains who does not look to see what his neighbor says or does or thinks, but only at what he does himself, to make it just and holy."

On material possessions:

"Look at the things of the world, how empty they are, how contemptible, and sordid, and perishable, and dead. The things we value in life are empty, corrupt, and trifling; little dogs biting one another, little children quarreling, laughing, and then crying."

On true wealth:

"Very little is needed to make a happy life; it is all within yourself, in your way of thinking."

As Roman Emperor, Marcus Aurelius had access to immense wealth, yet in his private writings, he consistently emphasized the transience of material goods and the importance of virtue over external possessions.

On wealth and virtue:

"Wealth and rank are what people desire, but unless they be obtained in the right way they may not be possessed."

On priorities:

"The superior man understands what is right; the inferior man understands what will sell."

On contentment:

"With coarse rice to eat, with water to drink, and my bended arm for a pillow - I have still joy in the midst of these things. Riches and honors acquired by unrighteousness are to me as a floating cloud."

Confucius recognized the importance of material well-being but emphasized that wealth should be pursued through righteous means and distributed fairly. He valued moral cultivation above material acquisition.

On attachment to wealth:

"The fool worries, thinking, 'I have sons, I have wealth.' Indeed, when he himself is not his own, whence are sons, whence is wealth?"

On greed:

"There is no fire like passion, there is no shark like hatred, there is no snare like folly, there is no torrent like greed."

Early Buddhist texts warn against craving and attachment to wealth while acknowledging that poverty can be an obstacle to spiritual practice. The Buddha taught a middle way between indulgence and asceticism.

On contentment:

"He who knows he has enough is rich."

On simplicity:

"I have three treasures which I hold and keep. The first is mercy; the second is economy; the third is daring not to be ahead of others. From mercy comes courage; from economy comes generosity; from humility comes leadership."

Taoist philosophy emphasizes simplicity, moderation, and harmony with nature. It cautions against excessive desire for wealth and advocates for finding contentment with what is sufficient.

On private property:

"Two things are competent to man in respect of exterior things. One is the power to procure and dispense them, and in this regard it is lawful for man to possess property. Moreover this is necessary to human life for three reasons. First because every man is more careful to procure what is for himself alone than that which is common to many or to all... Secondly, because human affairs are conducted in more orderly fashion if each man is charged with taking care of some particular thing himself, whereas there would be confusion if everyone had to look after any one thing indeterminately. Thirdly, because a more peaceful state is ensured to man if each one is contented with his own."

On the common use of goods:

"The second thing that is competent to man with regard to external things is their use. In this respect man ought to possess external things, not as his own, but as common, so that, to wit, he is ready to communicate them to others in their need."

Aquinas developed a nuanced view of property and wealth. He argued that while private property is justified for practical reasons, the wealthy have obligations to use their surplus to help those in need.

On labor and value:

"It should be known that all the crafts require thinking, whereas agriculture does not require much thinking... Therefore, we find that, in general, farmers and peasants who live in agricultural communities are simple-minded."

On taxation and prosperity:

"At the beginning of the dynasty, taxation yields a large revenue from small assessments. At the end of the dynasty, taxation yields a small revenue from large assessments."

Ibn Khaldun developed sophisticated economic theories, including the role of labor in creating value, supply and demand dynamics, and the economic cycle of civilizations. He recognized the importance of commerce while warning against excessive taxation.

On self-interest and the market:

"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages."

On the invisible hand:

"Every individual... neither intends to promote the public interest, nor knows how much he is promoting it... he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention."

Often considered the father of modern economics, Smith's work developed key concepts including the "invisible hand" of self-interest promoting social good, division of labor increasing productivity, and free markets allocating resources efficiently.

On property rights:

"Though the earth, and all inferior creatures, be common to all men, yet every man has a property in his own person: this no body has any right to but himself. The labour of his body, and the work of his hands, we may say, are properly his."

On labor and ownership:

"Whatsoever then he removes out of the state that nature hath provided, and left it in, he hath mixed his labour with, and joined to it something that is his own, and thereby makes it his property."

Locke's labor theory of property argued that individuals gain rightful ownership of resources by mixing their labor with them. This justified private property while setting limits: one must leave "enough and as good" for others and take only what one can use without spoilage.

On commodities and value:

"The wealth of those societies in which the capitalist mode of production prevails, presents itself as an immense accumulation of commodities, its unit being a single commodity."

On labor and surplus value:

"Capital is dead labour, that, vampire-like, only lives by sucking living labour, and lives the more, the more labour it sucks."

On commodity fetishism:

"A commodity appears, at first sight, a very trivial thing, and easily understood. Its analysis shows that it is, in reality, a very queer thing, abounding in metaphysical subtleties and theological niceties."

Marx developed a comprehensive critique of capitalism, analyzing labor theory of value, surplus value extraction, alienation of workers, and commodity fetishism. He envisioned a communist society where resources would be distributed according to need rather than market forces.

On the stationary state:

"I cannot, therefore, regard the stationary state of capital and wealth with the unaffected aversion so generally manifested towards it by political economists of the old school. I am inclined to believe that it would be, on the whole, a very considerable improvement on our present condition."

On distribution vs. production:

"The laws and conditions of the Production of wealth partake of the character of physical truths... It is not so with the Distribution of wealth. That is a matter of human institution solely. The things once there, mankind, individually or collectively, can do with them as they like."

Mill combined utilitarian ethics with economic analysis, distinguishing between the "laws of production" (based on natural science) and "laws of distribution" (based on social arrangements that could be changed). He advocated for worker cooperatives and criticized the "stationary state" where growth stops as potentially beneficial if wealth were more equally distributed.

On the veil of ignorance:

"No one knows his place in society, his class position or social status, nor does anyone know his fortune in the distribution of natural assets and abilities, his intelligence, strength, and the like... This ensures that no one is advantaged or disadvantaged in the choice of principles by the outcome of natural chance or the contingency of social circumstances."

On the difference principle:

"Social and economic inequalities are to be arranged so that they are both: (a) to the greatest benefit of the least advantaged, consistent with the just savings principle, and (b) attached to offices and positions open to all under conditions of fair equality of opportunity."

Rawls proposed principles for just distribution of resources that would be chosen behind a "veil of ignorance" (not knowing one's position in society). His work revitalized political philosophy and provided a systematic alternative to utilitarianism.

On entitlement theory:

"If the world were wholly just, the following inductive definition would exhaustively cover the subject of justice in holdings: 1. A person who acquires a holding in accordance with the principle of justice in acquisition is entitled to that holding. 2. A person who acquires a holding in accordance with the principle of justice in transfer, from someone else entitled to the holding, is entitled to the holding. 3. No one is entitled to a holding except by (repeated) applications of 1 and 2."

On taxation:

"Taxation of earnings from labor is on a par with forced labor... taking the earnings of n hours labor is like taking n hours from the person; it is like forcing the person to work n hours for another's purpose."

Nozick defended a libertarian view of justice in holdings based on just acquisition, just transfer, and rectification of past injustices. He argued that redistributive taxation is akin to forced labor and violates individual rights.

On capabilities approach:

"Development can be seen... as a process of expanding the real freedoms that people enjoy... Development requires the removal of major sources of unfreedom: poverty as well as tyranny, poor economic opportunities as well as systematic social deprivation, neglect of public facilities as well as intolerance or overactivity of repressive states."

On wealth and well-being:

"Economic growth cannot be sensibly treated as an end in itself. Development has to be more concerned with enhancing the lives we lead and the freedoms we enjoy."

Sen developed the "capabilities approach," arguing that development should be measured not by wealth or utility but by substantive freedoms ("capabilities") people have to live lives they value. His work on famines showed they result not from absolute food shortage but from entitlement failures.

On market values:

"The most fateful change that unfolded during the past three decades was not an increase in greed. It was the expansion of markets, and of market values, into spheres of life where they don't belong."

On corruption and degradation:

"When we decide that certain goods may be bought and sold, we decide, at least implicitly, that it is appropriate to treat them as commodities, as instruments of profit and use. But not all goods are properly valued in this way."

Sandel examines the moral limits of markets, arguing that some goods are corrupted or degraded when bought and sold. He critiques "market triumphalism" and calls for public debate about where markets serve the public good and where they don't belong.