December 8th, 2008
Why do Rich People Want Even More Money
It’s funny to talk about this, because I can’t call my self rich, but to be rich is a matter of perspective. If a homeless man finds $1000 on the street, he can call himself rich, but if Bill Gates would find that money…
The value of ‘richness’ is perceived by people differently. One interesting study, that has nothing to do with money could answer the question: Why do rich people want even more money. This study was conducted by Abraham Maslow, he wrote a paper on human motivation in which he defined the hierarchy of needs, also called Maslow’s Hiererchy of Needs.
He conceptualized a hierarchy illustrated on the image below.
There are 5 levels of needs. Every people start from the bottom, working their way up to the top of the pyramid, but this doesn’t mean that if someone achieved a certain level he can’t slip down on this pyramid.
Usually in modern societies, unfortunately, homeless people are at the bottom of this hierarchy. The first level aggregates the most basic human needs such as to sleep, to eat or to breathe.
The second level adds protection and security to the first level. People on this level usually have some sort of shelter, stability and they can call their environment safe. The 3rd and 4th levels adds love, affection, work relationship, etc.
The interesting part is on the 5th level which is personal fulfiment, meaning that a person achieved he’s best in life, he satisfied all of his psychological needs.
This hierarchy maybe work in theory, but not in practice, because there is no such thing called perfect. In reality every need, such as financial status, could be improved on some level.
In theory this hierarchy could work, a person can reach to the top of the pyramid, but in practice we can’t reach the 5th level, because there is a paradox in this hierarchy. Our perception of value, of needs, etc. changes when we are on a certain level.
This could be a logical answer to the question. People will always want more no matter what it is. What matters is the perception of how we look at things and our needs. If a person has $10.000 in his bank account, the need for another $1000 is just as strong that of a person who has $1.000.000 and wants $100.000.
If you enjoyed this article then help spread the word and please follow us on Twitter or subscribe to our RSS feed.
Subscribe to our RSS feedFollow us on Twitter
on Monday 8, 2008
I have studied Maslow’s heirarchy before, but never noticed until now that it seems to imply that you cannot find value in yourself or feel comfortable with your own sense of self (self-esteem) without first establishing yourself in a relationship, particularly a romantic one.
Popular belief in modern times seems to direct people to avoid the trap of dependence in relationships and know yourself before getting involved with someone else and trying start a family of your own. All of this discussion of course rests on the somewhat ludicrous assumption that any of this will be thought through before it happens, but what is the best solution?
Is Maslow suggesting that you need to be loved by someone else before you can be happy by yourself? That seems an incredible burden to place on loved ones, and how can two people mutually support this idea in a healthy relationship? I know this severely deviates from the point of the article, but I am interested to gain an alternate perspective while the subject of discussion is open.
on Monday 8, 2008
It’s actually very simple to reach 5th stage through spiritualism, meditation and careful manipulation of one’s mind and thoughts. But who wants that kind of boredom in their life?
Therefore it’s important to set goals and when it looks like you’re about to reach them, to move them.
That way you stay constantly motivated and get even more stuff. Not because you need it, but because it gives you something to do. I believe that once you’re rich it’s trivial to become richer because all you have to do is keep entertained and the riches flow in as a side-effect.
on Monday 8, 2008
When I was a student our professor suggested that in order to achieve personal fulfilment you need to balance every aspect of your life, not just financially, but spiritually.
And one important thing to mention here is that investing money into something creates risks. And if a person is missing one or more needs, not necessarily related to money, according to Maslow’s Hierarchy, he won’t accept those risks.