AuthorTopic: Being rich makes you more selfish, finds study :)  (Read 288 times)

Offline knarf

  • Global Moderator
  • Master Chef
  • *****
  • Posts: 15585
    • View Profile
Being rich makes you more selfish, finds study :)
« on: May 29, 2020, 02:08:52 PM »
It’s official, the well-to-do are self-centred

Wealthy people experience more positive emotions when focused on themselves, new research suggests. Or to put it another way; being rich makes you self-centred and selfish.

As the old adage goes, money can’t buy you happiness but it seems that it does have an impact on what brings you joy.

According to research published by the American Psychological Association, people with lower incomes find happiness in other people, through feelings of love and compassion, according to new research.

However, rich people find their happiness in more self-involved traits, such as pride.

Published in the journal Emotion, the research from the University of California, looked at how income impacts how we experience happiness by surveying 1,519 people from the US – 752 male and 767 female.

Instead of measuring happiness, the study compared the finances of each participant with how often they experienced seven positive emotions including amusement, awe, compassion, contentment, enthusiasm, love and pride.

Interestingly, the researchers found that those at the higher end of the socioeconomic spectrum reported a greater tendency to experience emotions that focused on themselves, specifically pride and contentment.

In comparison, individuals with lower incomes were more likely to experience positive emotions that focussed on other people, namely compassion and love.

Poorer people also reported experiencing more awe and beauty in the world around them, while there was no apparent difference for enthusiasm.

Over the last few decades, research has focused on the negative effects of poverty but this new study suggests that, while wealthier individuals tend to find greater positivity in their own accomplishments or status, for those on the lower end of the income scale, happiness came from a deeper place.

“Lower-income individuals have devised a way to cope, to find meaning, joy and happiness in their lives despite their relatively less favourable circumstances.”

“Wealth doesn't guarantee you happiness, but it may predispose you to experiencing different forms of it - for example, whether you delight in yourself versus in your friends and relationships,” said lead author Paul Piff of the University of California, Irvine.

https://www.independent.co.uk/life-style/rich-selfish-higher-incomes-happiness-self-centred-emotion-american-psychological-association-a8116846.html
NECROCAPITALISM at http://openmind693.wordpress.com ‘Rolling thunder. Shock. A noble one in fear and dread sets things in order and is watchful.’ I-Ching (Hex.51)

Offline Eddie

  • Master Chef
  • *****
  • Posts: 19718
    • View Profile
Re: Being rich makes you more selfish, finds study :)
« Reply #1 on: May 29, 2020, 03:03:55 PM »
It’s official, the well-to-do are self-centred

Wealthy people experience more positive emotions when focused on themselves, new research suggests. Or to put it another way; being rich makes you self-centred and selfish.

As the old adage goes, money can’t buy you happiness but it seems that it does have an impact on what brings you joy.

According to research published by the American Psychological Association, people with lower incomes find happiness in other people, through feelings of love and compassion, according to new research.

However, rich people find their happiness in more self-involved traits, such as pride.

Published in the journal Emotion, the research from the University of California, looked at how income impacts how we experience happiness by surveying 1,519 people from the US – 752 male and 767 female.

Instead of measuring happiness, the study compared the finances of each participant with how often they experienced seven positive emotions including amusement, awe, compassion, contentment, enthusiasm, love and pride.

Interestingly, the researchers found that those at the higher end of the socioeconomic spectrum reported a greater tendency to experience emotions that focused on themselves, specifically pride and contentment.

In comparison, individuals with lower incomes were more likely to experience positive emotions that focussed on other people, namely compassion and love.

Poorer people also reported experiencing more awe and beauty in the world around them, while there was no apparent difference for enthusiasm.

Over the last few decades, research has focused on the negative effects of poverty but this new study suggests that, while wealthier individuals tend to find greater positivity in their own accomplishments or status, for those on the lower end of the income scale, happiness came from a deeper place.

“Lower-income individuals have devised a way to cope, to find meaning, joy and happiness in their lives despite their relatively less favourable circumstances.”

“Wealth doesn't guarantee you happiness, but it may predispose you to experiencing different forms of it - for example, whether you delight in yourself versus in your friends and relationships,” said lead author Paul Piff of the University of California, Irvine.

https://www.independent.co.uk/life-style/rich-selfish-higher-incomes-happiness-self-centred-emotion-american-psychological-association-a8116846.html

It's actually probably exactly the other way around......that is......that selfish, self-centered people are more likely to accumulate wealth than other people. That I believe.

I'm interested in exactly HOW wealthy these people were, too. Rich means different things to  different people.  On the Diner I'm dinged for being rich. In Davos, I'm a pauper.

I've been poor, really poor. I was a student for 13 years. Now I'm financially better off, and my life is far easier and I'd rate myself as much happier than back when I worried about money constantly and didn't even know how I was going to possibly pay a parking ticket.
What makes the desert beautiful is that somewhere it hides a well.

Offline knarf

  • Global Moderator
  • Master Chef
  • *****
  • Posts: 15585
    • View Profile
Re: Being rich makes you more selfish, finds study :)
« Reply #2 on: May 29, 2020, 03:46:16 PM »
I put this on because it is such a popular and powerful meme for the people like Extinction Rebellion. I found this "angle" of the study almost sophomoric, but I have found other places that do not conclude this "causality". I do not think that privileged people ( which ARE wealthy and have more of ) is the same as "selfish", i think the two get pretty much the same billing. Sloppy thinking.

A totally different view, which I find is tied into Government policy ( which is interesting what changes the "meme".) I will let the reader decide if they want to pursue this approach by the website's URL.

Are the Rich More Selfish than the Poor, or Do They Just Have More Money? A Natural Field Experiment

 NBER Working Paper No. 23229
Issued in March 2017
NBER Program(s):Public Economics

The growing concentration of resources among the rich has re-ignited a discussion about whether the rich are more selfish than others. While many recent studies show the rich behaving less pro-socially, endogeneity and selection problems prevent safe inferences about differences in social preferences. We present new evidence from a natural field experiment in which we “misdeliver” envelopes to rich and poor households in a Dutch city, varying their contents to identify motives for returning them. Our raw data indicate the rich behave more pro-socially. Controlling for pressures associated with poverty and the marginal utility of money, however, we find no difference in social preferences. The primary distinction between rich and poor is simply that the rich have more money.

A 551K pdf of the study is available to download or read online.

https://www.nber.org/papers/w23229    The NBER stands for "National Bureau of Economic Research"

Which got me curious...

National Bureau of Economic Research

The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community."[2] The NBER is well known for providing start and end dates for recessions in the United States.

Many of the Chairmen of the Council of Economic Advisers have been NBER Research Associates, including the former NBER President and Harvard Professor, Martin Feldstein.

The NBER's current President and CEO is Professor James M. Poterba of MIT.

https://en.wikipedia.org/wiki/National_Bureau_of_Economic_Research

National Economic Council (United States)


The National Economic Council (NEC) of the United States is the principal forum used by the President of the United States for considering economic policy matters, separate from matters relating to domestic policy, which are the domain of the Domestic Policy Council. The council forms part of the Office of White House Policy which contains the National Economic Council and other offices. The Director of the NEC is titled the Assistant to the President for Economic Policy and Director of the National Economic Council. The NEC is distinct from the Council of Economic Advisers (CEA), which was established in 1946. The CEA provides much of the objective empirical research for the White House and prepares the annual Economic Report of the President.

https://en.wikipedia.org/wiki/National_Economic_Council_(United_States)

It reminds me of the famous Zen saying. Not being able to answer the Master's question about what is making the hosted flag move about he says "It is your mind that is moving the flag."
NECROCAPITALISM at http://openmind693.wordpress.com ‘Rolling thunder. Shock. A noble one in fear and dread sets things in order and is watchful.’ I-Ching (Hex.51)

 

Related Topics

  Subject / Started by Replies Last post
6 Replies
1553 Views
Last post August 13, 2014, 01:52:00 PM
by JRM
2 Replies
1223 Views
Last post December 21, 2019, 12:56:06 PM
by RE
0 Replies
235 Views
Last post June 09, 2020, 12:51:34 AM
by RE