“Great accumulations of wealth cannot be justified on the basis of personal and family security. In the last analysis such accumulations amount to the perpetuation of great and undesirable concentration of control in a relatively few individuals over the employment and welfare of many, many others.”

—  Franklin D. Roosevelt

1930s, Message to Congress on Tax Revision (1935)
Context: The desire to provide security for oneself and one's family is natural and wholesome, but it is adequately served by a reasonable inheritance. Great accumulations of wealth cannot be justified on the basis of personal and family security. In the last analysis such accumulations amount to the perpetuation of great and undesirable concentration of control in a relatively few individuals over the employment and welfare of many, many others.

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Great accumulations of wealth cannot be justified on the basis of personal and family security. In the last analysis su…" by Franklin D. Roosevelt?
Franklin D. Roosevelt photo
Franklin D. Roosevelt 190
32nd President of the United States 1882–1945

Related quotes

“When citizens are relatively equal, politics has tended to be fairly democratic. When a few individuals hold enormous amounts of wealth, democracy suffers. The reason for this pattern is simple. Through campaign contributions, lobbying, influence over public discourse, and other means, wealth can be translated into political power. When wealth is highly concentrated—that is, when a few individuals have enormous amounts of money—political power tends to be highly concentrated, too. The wealthy few tend to rule. Average citizens lose political power. Democracy declines.”

Benjamin Page (1939) Professor of Decision Making

Benjamin I. Page and Martin Gilens, Democracy in America?: What Has Gone Wrong and What We Can Do About It (University of Chicago Press: 2017), p. 19

John Adams photo

“As long as Property exists, it will accumulate in Individuals and Families. As long as Marriage exists, Knowledge, Property and Influence will accumulate in Families.”

John Adams (1735–1826) 2nd President of the United States

Letter to Thomas Jefferson (16 July 1814)
1810s

John Maynard Keynes photo

“When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals.”

John Maynard Keynes book Essays in Persuasion

as quoted in "Keynes and the Ethics of Capitalism" by Robert Skidelsy http://www.webcitation.org/query?id=1256603608595872&url=www.geocities.com/monedem/keyn.html
Essays in Persuasion (1931), Economic Possibilities for our Grandchildren (1930)
Context: When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals. We shall be able to rid ourselves of many of the pseudo-moral principles which have hag-ridden us for two hundred years, by which we have exalted some of the most distasteful of human qualities into the position of the highest virtues. We shall be able to afford to dare to assess the money-motive at its true value. The love of money as a possession — as distinguished from the love of money as a means to the enjoyments and realities of life — will be recognised for what it is, a somewhat disgusting morbidity, one of those semi-criminal, semi-pathological propensities which one hands over with a shudder to the specialists in mental disease … But beware! The time for all this is not yet. For at least another hundred years we must pretend to ourselves and to everyone that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury and precaution must be our gods for a little longer still. For only they can lead us out of the tunnel of economic necessity into daylight.

Sheyene Gerardi photo

“Knowledge accumulates over time; it’s not just one person or one set of time but over many hundreds of years. That gives me hope.”

Sheyene Gerardi Venezuelan actor and model
Julian Barnes photo

“There is accumulation. There is responsibility. And beyond this there is great unrest.”

Julian Barnes book The Sense of an Ending

Source: The Sense of an Ending

P.T. Barnum photo

“The foundation of success in life is good health: that is the substratum fortune; it is also the basis of happiness. A person cannot accumulate a fortune very well when he is sick.”

P.T. Barnum (1810–1891) American showman and businessman

Source: The Art of Money Getting: Golden Rules for Making Money

Karl Marx photo

“Capital grows in one place to a huge mass in a single hand, because it has in another place been lost by many. This is centralisation proper, as distinct from accumulation and concentration.”

Karl Marx (1818–1883) German philosopher, economist, sociologist, journalist and revolutionary socialist

Vol. I, Ch. 25, Section 2, pg. 686.
(Buch I) (1867)

Calvin Coolidge photo

“Excellent poetry, but not a good working philosophy. Goldsmith would have been right, if, in fact, the accumulation of wealth meant the decay of men. It is rare indeed that the men who are accumulating wealth decay. It is only when they cease production, when accumulation stops, that an irreparable decay begins. Wealth is the product of industry, ambition, character and untiring effort. In all experience, the accumulation of wealth means the multiplication of schools, the increase of knowledge, the dissemination of intelligence, the encouragement of science, the broadening of outlook, the expansion of liberties, the widening of culture. Of course, the accumulation of wealth cannot be justified as the chief end of existence. But we are compelled to recognize it as a means to well-nigh every desirable achievement. So long as wealth is made the means and not the end, we need not greatly fear it. And there never was a time when wealth was so generally regarded as a means, or so little regarded as an end, as today. Just a little time ago we read in your newspapers that two leaders of American business, whose efforts at accumulation had been most astonishingly successful, had given fifty or sixty million dollars as endowments to educational works. That was real news. It was characteristic of our American experience with men of large resources. They use their power to serve, not themselves and their own families, but the public. I feel sure that the coming generations, which will benefit by those endowments, will not be easily convinced that they have suffered greatly because of these particular accumulations of wealth.”

Calvin Coolidge (1872–1933) American politician, 30th president of the United States (in office from 1923 to 1929)

1920s, The Press Under a Free Government (1925)

“But we have managed to reverse that. Today, a great many people cannot find any work. People are dispossessed and cannot support themselves or their families. Many are homeless. For many others, work has become a rat race: something to be endured, not enjoyed.”

Charles A. Reich (1928–2019) American lawyer

The Liberals' Mistake (1987)
Context: The liberals were right when they insisted that we had enough food and goods for all of our people. But they did not — and we still do not — know how to distribute those goods in a rational way. We have failed to figure out how to turn this abundance into an advantage. The liberals were also right about labor-saving. If we evenly distributed the work that needs to be done, there ought to be a lot of time left over for everybody to have the leisure that people need. But we have managed to reverse that. Today, a great many people cannot find any work. People are dispossessed and cannot support themselves or their families. Many are homeless. For many others, work has become a rat race: something to be endured, not enjoyed.
Today we are witnessing an impoverishment: the apparent drying up of resources for all kinds of things that are badly needed. We seem to have no money for housing, for education, or for health and social services. And yet we have a deficit, and we are told by candidates for public office that we must cut the federal budget even more. This impoverishment is a mystery.

Abraham Joshua Heschel photo

“Not the individual man nor a single generation by its own power can erect the bridge that leads to God. Faith is the achievement of many generations, and effort accumulated over many centuries. … There is a collective memory of God in the human spirit, and it is this memory which is the main source of our faith.”

Abraham Joshua Heschel (1907–1972) Polish-American Conservative Judaism Rabbi

"The Holy Dimension", p. 333
Moral Grandeur and Spiritual Audacity: Essays (1997)

Related topics