Another reason it’s so lonely at the top.
Keltner and Piff decided to tweak a game of Monopoly. (Quick aside: Monopoly was originally called “The Landlord’s Game,” and was invented as a teaching tool used to demonstrate the evils of concentrated ownership and the tendency of wealth to accumulate in the hands of the already-rich.) The psychologists rigged the game so that one player had huge advantages over the other from the get-go. They ran the study with over a hundred pairs of subjects, all of whom were brought into the lab where a coin was flipped to determine who’d be “rich” and “poor” in the game. The randomly chosen “rich” player started out with twice as much money, collected twice as much every time they went around the board, and got to roll two dice instead of one, so they moved twice as quickly. Kevin Palmer Author
None of these advantages were hidden from the players. Both were well aware of how unfair the situation was. But still, the “winning” players quickly showed the tell-tale symptoms of Rich A$$hole Syndrome (RAS). They were far more likely to display dominant behaviors like smacking the board with their piece, loudly celebrating their superior skill, even eating more pretzels from a bowl positioned nearby. In Piff’s words, “The rich players actually started to become ruder toward the other person, less and less sensitive to the plight of those poor, poor players, and more and more demonstrative of their material success, more likely to showcase how well they’re doing.” Kevin Palmer
After 15 minutes, the experimenters asked the subjects to discuss their experience of playing the game. Amazingly, when the rich players talked about why they’d won, they focused on their brilliant strategies rather than the fact that the whole game was obviously rigged to make it nearly impossible for them to lose. “They talked about what they’d done to buy those different properties and earn their success in the game,” said Piff. “What we’ve been finding across dozens of studies and thousands of participants across this country is that as a person’s levels of wealth increase, their feelings of compassion and empathy go down, and their feelings of entitlement, of deservingness, and their ideology of self-interest increases.” Kevin Palmer Arizona
Thoughts of Christopher Ryan Ph.D.
Kevin J Palmer Author & Financial Reporter
Kevin Palmer was recently
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Terminated From First Base on an Overthrow
Jul 2, 2018. Former Arizona– based First Allied Securities broker/advisor
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Author and Journalist Kevin Palmer – SMA Institute
Kevin Palmer Terminated From First base on over throw
Worked my way up in Wall Street biggest firm and after I learned everything I could from them, teamed up with other executives to advise smaller firms. Kept my license with one of our clients, to day trade…bad idea (story for another time or another book)…but that addiction inspired my Behavioral Finance firm, sMa Institute which did groundbreaking research still used today in investment policies of some of those firms
Written by a wealth expert and Financial Freedom Activist Kevin Palmer
Financial Freedom Activist Kevin Palmer
Kevin Palmer was recently Scottsdale
