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This Statistic On Greed Will Shock You: Have Less? You’ll Give More.

By Frugaling 8 Comments

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Paul Piff is enemy number one for those who hoard their money. He’s a researcher at the prestigious University of California, Berkeley. What he’s found is that social class predicts “unethical behavior,” and he can show you over a game of Monopoly.

Piff hypothesized that Monopoly could be a powerful proxy for real life — modelling wealth generation and headstarts. Essentially, some people are born into wealthy families, while others aren’t. In a lab setting, Piff gave one participant more money to start, with some wealth generation benefits. The other participant was forced to play with one die — mimicking the many constraints and disabilities that a person may suffer through life.

Despite these artificial constraints, wealthier participants tended to hoard their money and would often refuse to share in their winnings. They tended to enjoy and laugh at others’ troubles. Being poor was seen as a bummer that the wealthier individual needn’t change.

This all centers on a fundamental question about generosity. When you have more, you actually tend to give less as a percentage of your income. That can be shocking to find out, when people see tremendous dollar amounts being given from select individuals.

Nothing captures this phenomenon better than the preceding video. In it, Sam Pepper — a YouTube personality — attempts to get a piece of pizza from paying customers. After being told “no” multiple times, he decides to ask a homeless person. Despite having very little, that individual willingly obliges.

We need to fundamentally change our understanding of what it means to be generous and wealthy. Too frequently, we aim for wealth generation without thinking about the responsibility we simultaneously have to give back. People universally deserve equal opportunity for a better life if we are all considered equal as humans.

Making money cannot be the end goal, but what should be? What’s driving you to succeed? What motivates you?

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Filed Under: Social Justice Tagged With: Charity, Giving, money, monopoly, occupy, research, rich, Wealth, Youtube

Comments

  1. Will says

    July 8, 2014 at 5:25 pm

    Really, my main focus right now is making money rather than giving money. Once I get my oxygen mask on, then I will help others. Once I reach that point, giving back to my parents, building a legacy for my children, and contributing to worthwhile charities will become my goals. I’m excited for that period of my life.

    Reply
    • Sam Lustgarten says

      July 8, 2014 at 5:32 pm

      Will,

      You’re absolutely right to think this way. I love the way you put it, too. I think you need to concentrate on becoming financially solvent before you worry about giving more. If you give before you actually feel financially secure, you could run into some rough financial issues. Great point!

      Thanks for your comment,
      Sam

      Reply
  2. Prudence Debtfree says

    July 8, 2014 at 6:20 pm

    I’m grateful for the comment by Will! Our focus is to get out of debt, so we aren’t giving a whole lot these days. I do look forward to the day when I will be debt-free and free to contribute generously to the causes that mean the most to me. I know some people who manage to fight off their debt and maintain a strong generosity at the same time. My hat is off to them.

    Reply
  3. Al | Saving the Crumbs says

    July 9, 2014 at 7:42 am

    Some great thoughts here! For my wife and I, we’ve come to the conclusion that we need to be giving generously even while reaching for financial independence mainly because we need the mental conditioning against greed and toward charity now. Yeah, it slows us down a bit, but we think it’s worth it. We don’t trust ourselves to be truly generous later when we’ve “made it” if we haven’t learned to be that way now. The natural human tendency to greed can be a sly beast.

    Reply
  4. Anne @ Money Propeller says

    July 9, 2014 at 8:28 am

    I love how Will put it “putting on my own oxygen mask.” Our intention is to give more than we currently do, in the future. Don’t forget that wealthier people are also more likely to give time, skills and services. For example, pro bono legal work, being on committees, organizing events, etc.

    Reply
  5. thebrokeandbeautifullife says

    July 9, 2014 at 8:31 am

    I don’t know that the poorer people being more willing to give their wealth away is necessarily a good thing, perhaps it’s one of the reasons they struggle financially.

    Reply
    • Sam Lustgarten says

      July 10, 2014 at 2:25 pm

      Stefanie,

      Your concern is well founded. I don’t believe that people should give more because and/or when they’re impoverished. That doesn’t make financial sense. I think this speaks to a larger socio-economic issues regarding wealth inequality and the perceived giving among wealthy, upper class individuals.

      Thanks for your comment,
      Sam

      Reply
  6. kat says

    July 11, 2014 at 9:25 am

    The universal law of sowing and reaping is magnificent. After all, you can’t harvest a field of corn where you planted nothing. I’ve heard of people putting it in their wedding vows to give at least 10% of their increase always, no matter what. These people must surely be blessed.

    Reply

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