I cited one article earlier. Here's another: http://www.hss.caltech.edu/~camerer/scanecon.pdf
"neuroeconomics" is a new way of looking at how humans work with wealth and so on. The basic idea is that just assuming that humans are rational when they make plans is really bad science. The same people who destroyed the world economy for a sake of a few billion, likely also love their children and grandchildren and probably hope to meet their great-great-grandchildren if they are lucky, and yet didn't think at all about the long-term impact of their behavior on their own extended families, letalone the rest of the world. Economists need to take into account human nature, not just ivory tower math about capitalism being good, just because rational greed will maximize everyone's economic benefits -people aren't rational, ever,, and really rich people are irrational in different ways than non-really-rich. L --- In FairfieldLife@yahoogroups.com, turquoiseb <no_reply@...> wrote: > > This ties in with a response I made earlier to Lawson, > but which for some reason Yahoo wouldn't let me post > at the time: > > I'd be interested in a citation about this research, if > you can track it down. I've always been fascinated by the > subject. It would be interesting to hear what researchers > feel that these brain changes map to in terms of behavior > and beliefs. > > One of the things I would expect -- both from those who > were "born and raised rich" and those who become rich > suddenly -- would be the development of delusions about > their own self importance. The belief that people "should" > pay attention to them and listen to their opinions, for > example. I would expect that wealth translates to greater > self-identification and an increasingly delusional belief > in one's own self-importance and effect upon the world. > I would also expect those delusions to have nothing to > do with one's *real* effect on the world. In other words, > I would suspect that rich people who give only the > absolute minimum of their money to charity to qualify > for tax deductions feel that they've "done as much for > humanity" as people like Bill Gates, who has recently > stated that his life plan is to give away 90% of his > wealth before he dies. > > In Bill's case, I suspect it has been the influence of > his wife (who, by all reports, is quite a lovely and > charming woman) who has helped him to find a sense of > balance with regard to his immense wealth. Other rich > people have not been so lucky. > > This week in Paris, I've been staying near the Bastille, > which is not as upscale as the Vth or VIth arrondissements, > but still has its share of luxury. I live across the street > from one of the most famous restaurants in Paris, called > Bofinger (pronounced Beaux-fan-zhey, not the way it sounds > to us Americans). From my window I can see rich people > pulling up in their chauffeur-driven limos and going in > to spend 150-200� per person on a meal. A few feet away > from the entrance is a family that literally lives on the > street there. The man, his wife, and small child live on > a blanket spread out on the sidewalk. They sleep there, > and obviously beg for a living. > > During this last week, I have not seen even ONE person > going into or leaving from that restaurant give them a > penny. One woman even kicked the child when she got in > her way. On the other hand, *most* of the middle-class > or even relatively poor working folks passing by give > them money. I give them every coin in my pockets every > time I pass by; I suspect I've spent more on them this > last week than coffee, which at 4� a cup in the cafes > I frequent is a lot. > > Bruce Cockburn wrote a song early in his career that > kinda summed up his approach to life. Having worked > busking the streets in Paris himself, he brought some > authority to the words, and to the sentiment. I think > that experience of "relying on the compassion of others" > helped to turn him into the sensitive and compassionate > guy he still is. Sometimes I think that the rich of > this world would benefit from spending a little time > on the streets themselves. > > http://www.youtube.com/watch?v=Q0abqtW4mgg > > Oh I have been a beggar > And shall be one again > And few the ones with help to lend > Within the world of men > > One day I walk in flowers > one day I walk on stones > Today I walk in hours > One day I shall be home > > I've sat on the street corner > And watched the bootheels shine > And cried out glad and cried out sad > With every voice but mine > > One day I walk in flowers > one day I walk on stones > Today I walk in hours > One day I shall be home > One day I shall be home > > > > --- In FairfieldLife@yahoogroups.com, "raunchydog" <raunchydog@> wrote: > > > > --- In FairfieldLife@yahoogroups.com, "sparaig" <LEnglish5@> wrote: > > > > > > There is some research that shows that people who are very wealthy show > > > differences in how their brains function compared to average people and > > > that these differences start to show up pretty much instantly if someone > > > wins a major lottery. > > > > I was courious if brain functioning is different in wealthy people as > > Lawson says. I didn't find anything about brain functioning but found an > > article that measured physiological differences in capacity for empathy. > > > > "Wealth may give you a better brain. It may make you a more strategic > > thinker, a savvier planner. (Research has shown that the more a person is > > able to imagine himself in the future, the more cash he is likely to have > > in his savings account.) And the cognitive benefits of affluence may accrue > > incrementally, speculates Dovidio, so that very rich people have better > > brain functioning than moderately rich people. These hypotheses are at the > > untested frontier of the new science...� > > > > The efficiencies of the affluent brain may trigger the shutting down of > > what the researchers call "pro-social" impulses and lead people toward the > > kinds of behaviors that a hedge-fund manager I spoke to characterized as > > "ruthless." "They're more willing to hurt others in their quest for money," > > he said. "When you look at people who've done exceptionally well, it tends > > to be the difficult people." > > > > Read more: > > The Money-Empathy Gap > > http://nymag.com/news/features/money-brain-2012-7/index4.html > > > > > > > > --- In FairfieldLife@yahoogroups.com, "Ann" <awoelflebater@> wrote: > > > > > > > > > > > > > > > > --- In FairfieldLife@yahoogroups.com, Bhairitu <noozguru@> wrote: > > > > > > > > > > Just to give you an example how deluded the rich are > > > > > > > > Pretty sweeping statement here. How rich is "rich"? What makes all rich > > > > people "deluded"? Why so angry at "rich" people? Does being "rich" > > > > change someone or do only assholes become "rich"? What is the antidote, > > > > becoming poor? > > > > > > > > , here's an article > > > > > and video about the Nestle CEO who wants all water privatized. This > > > > > asshat doesn't care about people, just about money. He needs a visit > > > > > form Lord Yama and soon. > > > > > http://www.trueactivist.com/nestle-ceo-water-is-not-a-human-right-should-be-privatized/ > > > > > > > > > > Billionairism is a mental disorder. > > > > > > > > > > > > > > >
