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Unequal distribution of wealth
Effects of wealth on people's life
Distribution of wealth and income in America
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Initially, the rich have the benefit of access to higher education. Therefore, most of them are fiercely ambitious and always set themselves very high targets. Thus, only when they achieve their prime objectives are they as pleased as Punch. Furthermore, possessing an enormous amount of money easily for a long time does not make the rich feel too happy but normal.(makes the rich take it for granted) In addition, sometimes getting high-end items seems meaningless and unappealing to the rich. Regarding a research from Princeton University's Woodrow Wilson School, after reaching a peak of 75,000 dollars a year, people do not feel more cheerful when making the larger sums of money. Nevertheless, the aspirations of the wealthy are so lofty and unlimited …show more content…
Thus, they are always willing to pose a challenge and take risks. In 2013, there are majorities of people assuming that Snapchat’s CEO - Evan Spiegel, did make an unwise decision when rejecting an acquisition offer of three billion dollars from Facebook, particularly Mark Zuckerberg. Conversely, having turned down a considerable amount of money does not mean that Spiegel refuse a golden opportunity of wealth because frankly, he does not need that money at all. In fact, Snapchat’s CEO, accompanied by co-founder Bobby Murphy, has been already over twice or three times richer, so they can establish a company and invest heavily without fear of bankruptcy. Nicholas Carlson (2013) concluded: “And what did that money — his father's and his own — buy him? It bought him a relatively risk-free chance to spend the rest of his life running a global technology company. It bought him a pursuit.” It can be said that abilities to chase lifelong dreams and achieving their heart’s desire without any restrictions or intense anxieties can bring happiness, meaningfulness, and enjoyment to their
In “The Real Truth about Money” (2005), Gregg Easterbrook discusses the effects of money on the people’s happiness. He presents his article with statistics of the generation immediately after the World War II and the current generation. He has experienced both generations as he has lived in both and is very familiar with the difference of people’s lives now and back then. Easterbrook is a highly reputed journalist, he is an authorized writer, editor, and professor. He worked with many professional magazines and newspapers; accordingly, he has enough knowledge to write about the people’s happiness in terms of money. Easterbrook has well convinced the readers with psychological facts from university researches and credible
A well-known expression is that money can’t buy happiness, yet people fantasize of winning the lottery, living in their dream house, and possessing enough tangible objects to feel satisfied with their lives. Most are under the preconceived notion that the absence of wealth and power translates to hardship and despair. This, however, is not the case, because a self-effacing lifestyle is not an indication of a lower quality of life, and often is better than one of great fortune. People yearn to have the financial independence and capabilities of those in higher ranking positions, and are willing to abandon their morals and own personal well-being if it means being successful. It seems that by reaching a level of wealth in which money is no longer
The article “High Incomes Don’t Bring You Happiness” verbatimly states, “Beyond $75,000, money is important for life evaluation, but does nothing for happiness, enjoyment, sadness, or stress” (Kenney 4). Those who spend prodigal amounts of money disdain plebeians because they claim that money is the foundation to living a great life. However, money only helps one meet certain needs and does not contribute in instigating true happiness within oneself. Happiness comes naturally by one’s actions and accomplishments. Although, money helps buy the commodities which satisfy one’s life, it is not the direct source for obtaining glee within a
Wealth and fame are not necessities that are needed to be happy with life. Fame and wealth are very sought after, because many people think those things and happiness go hand and hand. People are often mislead by this theory, money can make a person happy but it can also ruin every relationship they have and it can kill any ounce of joy they have. Wealth can be an idol that blinds people to the truly important things in life. When people solely focus on money to make them happy, they become emotionally and physically exhausted.
...at the American culture places economic success at the pinnacle of social desirability, without listing legitimate ways for attaining the desired goal (Merton 672-682). Today, the American Dream no longer reflects the dream Adams had, but instead, the idea that one can only call themselves truly successful if they have become rich, regardless of the way they got there. The American Dream does not guarantee happiness, but rather the pursuit of it, but with the media strongly persuading people that money guarantees happiness, people are encouraged to do whatever it takes, even it means disregarding their morals, so that they achieve ‘success.’ The inability to achieve this goal often leads people to destructive, and ultimately life-threatening criminal behavior as their feelings of anxiety and frustration over this vision of the “American Dream” get the best of them.
Some rich man who are not at the high level, they still want to creative some difference between the poor people who are in the same level as them, like to belong to something, and get happiness, so they bought a lot of expensive stuff. Those kind of people came from poor level, and be rich later. By their vanity, they were afraid of being deemed to a poor. And also because of this, rich people want to take a part of high levels because they can get more chance to get more relationship with high level people, and hold something
For some, simply having infinite wealth and popularity is enough for them to be happy. For others, they need something that money can’t buy. Two books that express these qualities are: The Wolf of Wall Street by Jordan Belfort and The Great Gatsby by F. Scott Fitzgerald. Both of these books describe the life of a wealthy man but each of them have different ideas of the American dream. Examples from these books will show how the American dream differs from person to person.
How does one earn the title of wealthy? Authors Dr. Thomas J. Stanley and Dr. William D. Danko have studied how people become wealthy for over twenty years. They have conducted research, written books, conducted seminars, and advised major corporations on whom the wealthy are and what are the characteristics of the affluent in America. The research for The Millionaire Next Door was comprised of personal, as well as focus group interviews, with more than 500 millionaires. A survey of 1,115 high net worth and/ or high income respondents was also compiled. The authors define the threshold for being wealthy as having a net worth of $1 million or more. This is one distinction that the authors make in comparison to what most Americans might perceive is the definition of wealth. As opposed to what most Americans in our society believe, a measure of an individual’s material possessions does not necessarily equate to being wealthy. According to the authors, wealth is what you accumulate and not what you spend. Based on the author’s definition of wealth, only 3.5% of American households meet their criteria for status as a millionaire. Of this small percentage, 95% of millionaires have a net worth between $1 million and $10 million. The authors chose to focus on this segment of millionaires because this level of wealth can be attained in one generation and by many Americans.
Living in one of the wealthiest countries in the world, our culture has naturally valued prestige and luxuries. We admire fancy items and often judge other individuals by the clothes they wear, the car they drive, and the schools that they attend. The “American Dream” serves as a motivational factor for people; believing that hard work and dedication can bring “success” to ones’ life. Although this is partially true, it is difficult for individuals in the middle class and lower class.
He further shows us that the people of today are richer than their grandparents but are not happier in their lives (from National Statistics of social pathology). Even with these facts, people in the United States still believe if they had more money all of their problems would be solved, but once they reach that next income bracket they are not satisfied and try to reach the next one. Myers et al tells us, "even if being rich and famous is rewarding, no one ever claimed material success alone makes us happy. Other conditions like - family- friends- free time - have been shown to increase happiness" (Csikszentmihaly 145). therefore we must find balance in our own lives, and not just focus on making money. Instead we need friends, family and even free time, as aforementioned doing an activity you enjoy such as listening to music or
Highfield, Roger . "Relative wealth 'makes you happier'." The Telegraph. Telegraph Media Group, 28 June 0022. Web. 30 Apr. 2014.
Rich people are the selfish people that only care about their wealth and about their
..., a person who earns $25,000 is happier than a person who makes $125,000 and an employee who makes $500,000 is only slightly happier than someone who makes $55,000. Lastly, there are more important things in life that and make you happy, for example, friends. They don’t come with a price tag, and if they do, you definitely need new friends. Money won’t make you happy since good times can’t be bought. You don’t need a fancy vacation to have a good time; it’s just a matter of who you spend it with. Over the years, humans have blown the value of money way out of proportion. People make it seem like if you’re not filthy rich, then you won’t live a good life but it’s not true. You can lack money and yet still live a perfect, happy life.
Almost everybody hopes to be rich. Society believes that only the social status can define the kind of person you are. Majority of
Acquiring things like houses and cars only has a transient effect on happiness. People’s desires for material possessions crank up at the same, or greater rate, than their salaries. Again, this means that despite considerably more luxurious possessions, people end up no happier. There’s even evidence that materialism makes us less happy. People don’t shift to enjoyable activities when they are rich.... ...