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May 4, 2024 · The wealthy have a lot to answer for. Inequality has been widening for years. This is especially true of wealth (what you own): In Canada, the wealthiest 10 per cent own 56 per cent of the country ...
- 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 ...
Dec 4, 2018 · In a paper published earlier this year, he and his collaborators asked more than 2,000 people who have a net worth of at least $1 million (including many whose wealth far exceeded that threshold ...
- Joe Pinsker
Sep 30, 2021 · In a small city, that can mean you’re earning $100,000 per year. However, in a metropolis with a higher cost of living, achieving that status could mean you have to make $1 million per year ...
- Aditi Shrikant
- 1 min
Sep 13, 2022 · The pursuit of further wealth. Once people have a lot of money, there is an obsession to stay wealthy. Ashley Whillans, a behavioral scientist from Harvard, calls this ‘the toxic money mindset’. She says that many already-rich people have a money-centric pursuit of further wealth and that this does little for happiness. 9
Sep 14, 2020 · ProStock-Studio/Getty Images. Summary. Although some studies show that wealthier people tend to be happier, prioritizing money over time can actually have the opposite effect. But even having just ...
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Apr 10, 2012 · The less we have to rely on others, the less we may care about their feelings. This leads us towards being more self-focused. Another reason has to do with our attitudes towards greed. Like Gordon ...
