The rich get richer: Is there a solution to the inequitable distribution of wealth?

This paper was presented to the Club by Roger B. Linscott in 1989. Roger was, for many years, the associate editor of The Berkshire Eagle, Pittsfield's daily newspaper. He won the Pulitzer Prize for his editorial writing in 1973, and died in 2008 at the age of 88, having been a member of the Club since 1950. We are indebted to Roger's daughter, Wendy Lamme, for a treasure trove of Roger's Club papers which we will be publishing during the next several years. In this paper delivered 20 years ago, he tackled the issue of the skewed distribution of wealth in America, which has only gotten more skewed in the two decades since he wrote it.

A widely-admired New Yorker cartoon of my younger years — done, I believe, by Peter Arno in the 1940s — depicted a rather elderly and obviously successful cleric seated at his desk in front of a huge vaulted window in the office of a Fifth Avenue cathedral. Fingertips together and eyes cast heavenward, he is addressing an eager-looking novice on the other side of the desk; and what he is saying to him is: "Young man, as one who would seek preferment in our calling, I would admonish you to avoid whenever possible two subjects: politics, and religion."

I was given approximately the same advice, albeit under the considerably less pious auspices of my sponsor, the sainted Billy Annin,* when I joined the Monday Evening Club 40 years ago. While it was not writ in stone, he said, or even officially in the bylaws, there was a tacit understanding that readers should circumambulate the subjects of politics and religion, lest sensitivities be wounded and fires started which might not be easily quenched. I trust that tonight's paper won't be felt to trespass on that on that taboo. It deals with a subject of unavoidably close concern to all of us: money — and more specifically, the appalling inequity with which money is distributed in our society.