I never claimed that the rich are rich because they are frugal. I made the normative claim that the rich ought to be much more frugal, and in order for them to do that, we should praise their frugality as altruism (so long as they donate the money and not pass it down as generational wealth).
I also never claimed that the rich “become poor” through spending. The rich seldom truly become poor, even if they make terrible investments.
I agree with your last point—that’s precisely the kind of argument I am trying to make with this piece: we care far too much about the ultra-wealthy’s virtue signaling and not enough about what they actually do with their money.
I never claimed that the rich are rich because they are frugal. I made the normative claim that the rich ought to be much more frugal, and in order for them to do that, we should praise their frugality as altruism (so long as they donate the money and not pass it down as generational wealth).
I also never claimed that the rich “become poor” through spending. The rich seldom truly become poor, even if they make terrible investments.
I agree with your last point—that’s precisely the kind of argument I am trying to make with this piece: we care far too much about the ultra-wealthy’s virtue signaling and not enough about what they actually do with their money.