3 ms·
I wonder how much selection bias is embedded in this (common) sentiment. It takes a certain type of character flaw to want to flaunt your money. I'd imagine the
by cjlars 10y ago
I wonder how much selection bias is embedded in this (common) sentiment. It takes a certain type of character flaw to want to flaunt your money. I'd imagine there's a silent majority among wealthy heirs that just never bring it up, try to blend in, and are perfectly well-adjusted.
- drewrv 10y agoAlso possible that they have a sense of superiority that people living off a UBI wouldn't have. Or that an heirs parents were never around because they were too busy. It's why I try not to reason from my own anecdotes and support a UBI despite having this grumpy old man in my head complaining about how needing to work builds character.
- SamBam 10y agoVery true. I have coworkers who I only found out years later were wealthy through family money. They worked as hard as anyone else, and no one had any reason to know they were wealthy. I'd love to see studies on this, though.
- cjlars 10y agoJust did some googling on this. For the most part, there doesn't seem to be much research on inheritance & personality disorders, which is odd because 'does money make us happy' is one of the biggest questions in sociology. I did find this paper however, which is full of tangential information: https://www0.gsb.columbia.edu/mygsb/faculty/research/pubfiles/2669/Too%20much%20not%20enough.pdf https://www0.gsb.columbia.edu/mygsb/faculty/research/pubfile...
- cfreeman 10y agoI'm not so certain it's a majority. I think growing up wealthy and not working has a profound effect on people. It isolates you from the majority of the population, and removes any external pressure to grow and take risks.