On Patronage and Obscene Wealth

Money is like water. It needs to flow. When it pools it stagnates and becomes a stinky, slimy mess. Lots is said these days about the wealth inequality. Discussions circle around how to take money from the wealthy and to distribute to those who have less. As someone who relishes the freedom to do what he wants with his own money, I find the proposed solutions generally unpalatable. No one should be compelled to do anything. That's the singular point of a free society - freedom to choose.

Without the ability to win big, why would anyone shoulder the weight of big risks? I think if you want a society that moves upward, you cannot deny those who are willing to risk it all the reward that comes with seeing their risk payoff.

What I think is more the issue is a sense of duty to serve among the wealthy and a willingness in society to receive the patronage of the wealthy. Many of the monuments, buildings, painting, and other works of cultural significance in our world would not exist without the wealthy benefactors of past generations. It's hard to know the true motivations of those people. Yet, we can say objectively that without their funds, the world we all enjoy so much today would not exist. Even if it were for sake of pure ego, look at the beauty they have wrought on the world.

The problem I see it is that philanthropy has been institutionalized and society seems less willing to receive the gifts of the wealthy. As a result, the money sits and stagnates or is handled with such beaucratic dryness that little of inspiration results.

I think the wealthy have an obligation to spend and to spend liberally. For the ultra-wealthy, it's nearly impossible for them to outspend their wealth in their lifetimes. Commission paintings, scupltures, and textiles. Build parks. Renovate rec centres. Build society. Hire chefs. Host parties. Sponsor playwright and dancers. Build terminals and operating systems because you can without regard for commercial gain. Do things because you want to see them exist in the world. Not everything needs to generate more revenue.

Making the world more beautiful is reward enough.