The Angry Rich

The Economist (a magazine that is very pro-business) had an interesting article recently about social psychology experiments that showed that the rich are less able to enjoy the day to day pleasures of life. And this effect also happens among people temporarily made relatively rich (say given $100) or even just shown pictures of money.

The need of our economic system to keep people consuming creates advertising indoctrination that pulls our attention away from what really satisfies: Day to day relationships with other people and the details of our life. Excess wealth is more a matter of aggressively possessing things that other people don't have than enjoying those things for themselves. It leads to an empty narcissism that leaves the rich unsatisfied and without empathy for the victims of their greed. And frustrated and angry and in search of scapegoats.

Krugman makes me so angry, not as someone who is rich, but as someone who understands the difference between earned and entitled:

"... consisting of people who feel that things to which they are entitled are being taken away."

If I am rich in America, chances are that either I, or my family before me, earned the money in the most effective free market known. I'm not saying it's perfect, but it's the best we've got. The assertion that I should be able to keep what I have earned is not entitlement. Entitlement is the assertion that I have a right to something, without regard for effort or trade.

I am entitled to keep what I have earned. Taking my earnings is a moral wrong. There is no two ways about it. It is no more right to take a dollar from a man who has a hundred of them than it is to take a dollar from a man who has one.

Oh, so it is ok to take away what someone else's earnings because you know better than they do?