Sunday, March 30, 2014

New money, Old money, and everybody else.

In the book The Great Gatsby by F. Scott Fitzgerald, we read about the difference between new money and old money. Old money is generational wealth from old established connections. When think of old money in today's culture, I think of men who went to Yale like their predecessors, and who play polo with their neighbors on the weekends. New money is characterized by people who have become wealthy on their own, through something like entrepreneurship or investing. When I visualize new money I think of those people who dropped out of college and somehow struck gold with their out-of-the-box idea. In today's world, the idea of getting 'new money' is what everyone is trying to find. There are tons of examples of people who are rolling in dough because of the simplest idea - like Scott Boilen, the creator of the Snuggie. His idea of a blanket with sleeves had actually been thought of before with the less popular Slanket, but somehow Boilen made millions.
There is another difference between old and new money. With old money, a person doesn't really have to work to get their money. In a way, people who come from old money are like freeloaders - they live off of someone else's money. People who are from new money have worked hard make their money. They have a different sense of pride because they are rich, but they got there themselves and not because of somebody else.
In the book The Great Gatsby, it makes it seem like people from new money are more aware of what is going on around them, and are more socially conscious. In chapter 1, Tom brings up the book he was reading about how them the "dominant race to watch out or these other races will have control" (Fitzgerald 17). Times are changing, and Tom is caught up on the idea that colored people are gaining power in society. So I have a question for whoever reads this: do you think there are still people with an old money mentality in today's culture? And if so, what characterizes them?

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