Does wealth distort morals?

Does wealth distort morals?

by Giancarlo Melini

It is a common assumption that money corrupts people, even that “money is the root of all evil”, but to which extent is that actually true?

Many studies have been conducted regarding this matter, since it is important from an anthropological point of view, to understand how the socioeconomic system -specially the monetary system- affects the behavior of people and shapes their moral compass. The results have been extremely interesting, as explained further. The current economic model encourages people to pursue success trough the acquisition of property, competition and status recognition. Despite several studies indicating that money is only related to happiness to a very limited extent, the media keeps telling us that material abundance is the way to achieve true happiness. 

Because becoming rich is what this system puts on a pedestal, it is important to analize the psychologial impact that wealth has on the morals and behavior of people while interacting within a society. 

A study of the University of California Berkeley, in the USA, showed extremely surprinsing and disturbing results. People with money are not only most likely to cheat, lie, take advantage of others and break the law, but they actually feel entitled to do so because of their privileged position. Rich people -no matter their background- tend to disregard all the external factors that enabled them to become what they are, and instead credit their own individual skills and abilities for the success they achieve, even when it is evident that they received external support. Wealthy individuals see their morals altered since they have a sudden feeling of self-achievement, they feel superior and therefore the rules don't apply -or apply differently- to them. See the report here: 

Money on the mind

These results are extremely important in relation on how society functions nowadays. This sense of entitlement that becomes part of people once they have enough resources to become self-reliant, perpetuates an economic paradigm based on structurual inequality, which is very harmful for the individual and society in general, as Richard Wilkinson has pointed out in his work. Inequality is one of the root causes of violence and social stress, since it is common to have a natural agressive response when unfairness is intrinsic in the system and is a key element for it to function. Even animals have a sense of fairness, and they react in a very hostile manner when they receive an unequal pay for equal job, which is the modus operandi of the capitalist system. See this presentation: 

In a system where the rich are given a lot of advantages over the poor and they don't even acknowledge it, social mobility will be extremely rare and aggression will become part of the every day life, since it would be a mean to obtain the necessary resources for survival. The profit motive, competition, the acquisition of property and best self-interest as the core premises of an economic system must be outgrown in order to create a true just economy and equal access to vital -and non vital- resources for everyone. 

So, the next time you hear the phrase money changes people, be aware that it might actually be true.