“The process has aroused much antagonism, a great part of which is wholly without warrant. It is not true that as the rich have grown richer the poor have grown poorer. On the contrary, never before has the average man, the wage-worker, the farmer, the small trader, been so well off as in this country and at the present time. There have been abuses connected with the accumulation of wealth; yet it remains true that a fortune accumulated in legitimate business can be accumulated by the person specially benefited only on condition of conferring immense incidental benefits upon others. Successful enterprise, of the type which benefits all mankind, can only exist if the conditions are such as to offer great prizes as the rewards of success.”

— Theodore Roosevelt

1900s, First Annual Message to Congress (1901)

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Theodore Roosevelt 445

American politician, 26th president of the United States 1858–1919

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“The rich have grown richer, but their tax rate has declined. The poor have grown poorer, but their taxes have increased.”

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“In the past century a myth has grown up that free market capitalism—equality of opportunity as we have interpreted that term—increases such inequalities, that it is a system under which the rich exploit the poor. Nothing could be further from the truth. Wherever the free market has been permitted to operate, wherever anything approaching equality of opportunity has existed, the ordinary man has been able to attain levels of living never dreamed of before. Nowhere is the gap between rich and poor wider, nowhere are the rich richer and the poor poorer, than in those societies that do not permit the free market to operate.”

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“Those tempted to slough off the helpful role of the state [in the earning of private property] should… "compare the fortune accumulated by Cornelius Vanderbilt in America with what he might have accumulated had he been adopted when an infant by a family of Hottentots."”

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“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)

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“The institutional scene in which American man has developed has lacked that accumulation from intervening stages which has been so dominant a feature of the European landscape.”

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“Thus is the problem of Rich and Poor to be solved. The laws of accumulation will be left free; the laws of distribution free. Individualism will continue, but the millionaire will be but a trustee of the poor; intrusted 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.”

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“Who has seen on so small a theatre as my poor bed, such a representation of the disappointments of fortune? And I, as if she could not herself subdue me, I have yielded and become of her party; for it were wild audacity to hope to surmount such accumulated evils.”

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Quem ouviu dizer que em tão pequeno teatro como o de um pobre leito, quizesse a fortuna representar tão grandes desventuras? E eu, como se elas não bastassem, me ponho ainda da sua parte; porque procurar resistir a tantos males pareceria espécie de desavergonhamento.
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“A man who does not know what has been thought by those who have gone before him is sure to set an undue value upon his own ideas—ideas which have perhaps been tried and found wanting. As accumulated learning stifles the mental powers, so original thinking has been known to bring about a puffy, unsubstantial mental condition.”

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Povarennaia kneiga dlia golodaiushchikh. Quoted in Nineteenth-Century Literature Criticism (NCLC), vol. 108 https://books.google.it/books?hl=it&id=I7ZkAAAAMAAJ, ed. by Jessica Menzo (Gale Group, 2002), p. 169.

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Theodore Roosevelt 445

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