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There are many reasons why some people succeed in becoming rich and others don't, but the specific combination of personality traits that both studies identified is certainly one of the reasons.
Sep 23, 2020 · People who are actually "wealthy" have bought into the keys of true wealth accumulation. Based on my experience (and validated by both books above), these keys include: 1. Living within...
- More Money, Less Empathy?
- Wealth Can Cloud Moral Judgment
- Wealth Has Been Linked with Addiction
- Money Itself Can Become Addictive
- Wealthy Children May Be More Troubled
- We Tend to Perceive The Wealthy as “Evil”
- Money Can’T Buy Happiness
Several studies have shown that wealth may be at odds with empathy and compassion. Research published in the journal Psychological Science found that people of lower economic status were better at reading others’ facial expressions—an important marker of empathy—than wealthier people. “A lot of what we see is a baseline orientation for the lower cl...
It is no surprise in this post-2008 world to learn that wealth may cause a sense of moral entitlement. A UC Berkeley studyfound that in San Francisco—where the law requires that cars stop at crosswalks for pedestrians to pass—drivers of luxury cars were four times less likely than those in less expensive vehicles to stop and allow pedestrians the r...
While money itself doesn’t cause addiction or substance abuse, wealth has been linked with a higher susceptibility to addiction problems. A number of studies have found that affluent children are more vulnerable to substance-abuse issues, potentially because of high pressure to achieve and isolation from parents. Studies also found that kids who co...
The pursuit of wealth itself can also become a compulsive behavior. As psychologist Dr. Tian Dayton explained, a compulsive need to acquire money is often considered part of a class of behaviorsknown as process addictions, or “behavioral addictions,” which are distinct from substance abuse. While a process addiction is not a chemical addiction, it ...
Children growing up in wealthy families may seem to have it all, but having it all may come at a high cost. Wealthier children tend to be more distressed than lower-income kids, and are at high riskfor anxiety, depression, substance abuse, eating disorders, cheating, and stealing. Research has also found high instances of binge-drinking and marijua...
On the other side of the spectrum, lower-income individuals are likely to judge and stereotype those who are wealthier than themselves, often judging the wealthy as being “cold.” (Of course, it is also true that the poor struggle with their own setof societal stereotypes.) Rich people tend to be a source of envy and distrust, so much so that we may...
We tend to seek money and power in our pursuit of success (and who doesn’t want to be successful, after all?), but it may be getting in the way of the things that really matter: happiness and love. There is no direct correlation between income and happiness. After a certain level of income that can take care of basic needs and relieve strain (some ...
Oct 5, 2016 · After all, wealth brings all sorts of advantages, like improved health, greater freedom and control over your life, nicer things, respect from your friends and peers. Yet new research suggests that wealth may also come with certain costs, and impact our social interactions in ways that we overlook. The empathy gap.
Chapter One focused on why wealth, in the form of personal assets, matters. This chapter explains why the wealthy matter. As argued in the introduction, ‘wealth’ and ‘the wealthy’ are related but represent two distinct sets of issues.
Jan 25, 2019 · How do we assess views about the rich if people form their opinion on the affluent based on stereotypes rather than facts? How do people with different definitions of wealth evaluate wealth inequality?
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Feb 1, 2022 · Societal influences include macroeconomic circumstances, cultural narratives, structural prejudices, and salient consumption behaviors by the rich and the poor. I discuss how these influences shape (and distort) attributions of economic outcomes and lay beliefs about wealth and poverty.
